Navigate Canada Exit Tax Regulations
Louis Sirois, LL.B. - Tax Lawyer with 40 Years of Experience at the Quebec Bar
Navigate Canada Exit Tax Regulations
Louis Sirois, LL.B. - Tax Lawyer with 40 Years of Experience at the Quebec Bar
Canada Exit Tax
What is Exit Tax?
When you cease to be a Canadian tax resident, the Canada Revenue Agency (CRA) treats you as having sold most of your worldwide assets at fair market value - even though you haven't actually sold anything. This is called "deemed disposition" and can trigger a substantial tax bill.
Key Points:
- Capital gains tax on appreciated assets (stocks, crypto, real estate outside Canada)
- Tax bill can range from $100,000 to several million dollars
- Payment due on your final tax return or security arrangements required
- Complex rules for RRSPs, pensions, Canadian real estate
- Strict deadlines and filing requirements
The good news? With proper planning 6-12 months before departure, you can minimize this tax burden legally and protect your wealth.
Who Should Consult?
Cryptocurrency Holders If you hold Bitcoin, Ethereum, or other digital assets with significant gains, your exit tax exposure could be substantial. We specialize in crypto taxation and international structuring for high-net-worth individuals relocating to crypto-friendly jurisdictions like Dubai.
Business Owners & Entrepreneurs Selling your business before leaving Canada? The timing of your departure versus the sale can save you hundreds of thousands in taxes. We help structure your exit to maximize after-tax proceeds.
Senior Executives Receiving a severance package or stock options? Your departure date affects how these are taxed. We optimize executive compensation packages in the context of expatriation.
International Investors Large investment portfolios (stocks, bonds, funds) trigger deemed disposition. We help you understand your exposure and implement strategies to defer or reduce the tax impact.
Retirees Moving Abroad Planning to retire in Portugal, Costa Rica, or elsewhere? We ensure you understand your ongoing Canadian tax obligations and help you maintain access to RRSPs and CPP without excess withholding.
Why Choose Me??
40 Years of Tax Law Expertise
Louis Sirois, LL.B.Member of the Quebec Bar since 1987
I have spent nearly four decades specializing in Canadian tax law, with particular expertise in:
- Departure tax and cessation of residence
- Cryptocurrency taxation
- Cross-border tax planning
- Executive compensation optimization
- Estate planning for international families
Based in Laval, Quebec, I work with clients across Canada who are relocating to Dubai, Portugal, Panama, the United States, and other jurisdictions worldwide.
My approach: Clear explanations, strategic planning, and personalized service. I take the time to understand your unique situation and develop a tax-efficient exit strategy tailored to your goals.