Exit Tax & Final Tax Return in Canada
Leaving Canada? Ending Canadian tax residency comes with important tax reporting requirements.
- Guidance through the final tax return process
- Review of potential exit tax (deemed disposition) implications
- Preparation of required tax forms for CRA and disclosures
Olga Vozna
Accountant
Trusted Experts In
What You Should Know Before Leaving
Canada Doesn't Forget
CRA exchanges data with countries worldwide. Even if you're already in another country—it's better to close this chapter now than receive an unpleasant surprise years later.
Risk of Double Taxation
Without proper exit documentation, Canada may continue to consider you a tax resident.
Who Is This For?
Newcomers
Planning to open a business in Canada.
Aspiring Entrepreneurs
Taking first steps in business.
Freelancers
Self-employed specialists working for themselves.
Specialists
Construction, IT, beauty, and other services.
Future Corporations
Thinking about incorporating.
Business Owners
Wanting to scale or organize finances.
Side Hustlers
Having additional income streams.
Uber/Lyft/DoorDash Drivers
With self-employed income.
What our Clients Say
"I got a fantastic express consultation from Olha Chikaliuk. Answers and information were very accurate, valuable, and professional. My entire family will only do their taxes with Olha."
"I had some questions regarding tax payments and proper calculations, and Anytime Accounting was very helpful. They provided clear guidance and made the process much easier. Professional and reliable service."
"Very satisfied with the service! Professional, efficient, and always explains everything clearly. Always available and ready to help. I highly recommend!"
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We review your information and tax situation.
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We assist with required filings and next steps.
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FAQ
You need to determine whether you are going on a long vacation or leaving Canada as a place of permanent residence. Because this affects your tax residency and whether you need to continue paying taxes in Canada on income from other countries.
Before leaving Canada, it is important to properly close Canadian tax residency. This usually includes confirming tax status on the departure date and filing a final tax return. Ignoring this step may lead to ongoing tax obligations or CRA follow-ups.
If the required information is not provided, CRA may issue an estimated assessment based on available information.
Exit Tax is a tax that may arise when leaving Canada. In certain circumstances, CRA considers that on the day of departure you are deemed to have disposed of some assets at their fair market value, even if no actual sale occurred (deemed disposition).