Tax advice for leaving Canada
Feb 21st 2022, 6:19 am
#1
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Joined: Oct 2011
Posts: 32
Tax advice for leaving Canada
Hi guys (from rainy Israel - don't ask!),
I am moving shortly back to UK because of family reasons and I have the following questions reference tax:
1. Is the NR73 the only thing I need to send to CRA to inform them I am leaving? Must I do this as soon as I know when I am leaving or is there a timeline?
2. If I still have a bank account and a rental property (for my daughter until October), what status will I be for tax purposes, as I will be paying tax in UK straightaway?
3. We are sending all our physical possessions back in a container (value around $100k) - do I need to register for departure tax? I cannot get my head around paying tax on my own possessions even if I do not sell any.
4. Is there anything else I need to do?
Best,
Jim
I am moving shortly back to UK because of family reasons and I have the following questions reference tax:
1. Is the NR73 the only thing I need to send to CRA to inform them I am leaving? Must I do this as soon as I know when I am leaving or is there a timeline?
2. If I still have a bank account and a rental property (for my daughter until October), what status will I be for tax purposes, as I will be paying tax in UK straightaway?
3. We are sending all our physical possessions back in a container (value around $100k) - do I need to register for departure tax? I cannot get my head around paying tax on my own possessions even if I do not sell any.
4. Is there anything else I need to do?
Best,
Jim
