Published: June 27, 2023
The Canadian tax system provides limited taxpayer relief under subsection 220(4.5) of the Income Tax Act by allowing qualifying taxpayers to post security in lieu of paying the total amount of departure tax owing when emigrating from Canada.
"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."