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Individuals or corporations leaving Canada are subject to what is usually referred to as a departure tax. For individuals emigrating from Canada there is a deemed disposition of most assets, resulting in tax on the capital gain realized as a result of the deemed disposition. The provisions for corporations are complex but they attempt to mimic capital gains that would occur if the corporation were sold, taking into account accumulated PUC (paid up capital), debts/obligations and any prior emigration or branch tax paid by the corporation on a previous emigration that occurred prior to 1996.

Disclaimer:

"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."

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Departure Tax
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A Canadian Tax Lawyer’s Guide to Deemed Dispositions
Principal Residence Exemption from Taxation of Cottages
Principal Residence Exemption from Taxation of Cottages
Tax Guidance for Assignors in Real Estate Assignment Transactions
Lifetime Capital Gains Exemption & Qualified Small Business Corporation Shares
Principle Residence Exemption and House Flipping
Nature of Trade
A Guide to Adventure or Concern in Nature of Trade
Taxation for Capital Gains & Capital-Gains Reserve for Future Proceeds
Capital-Gains Implications of Gifts & Other Non-Arm’s-Length Transactions Deviating from Market Value: Subsection 69(1) of Canada’s Income Tax Act – A Canadian Tax Lawyer’s Analysis