Jacks on Tax

By Evelyn Jacks, RWM, MFA, MFA-P, FDFS on February 2, 2026
Estimated reading time: 6 minutes

By Evelyn Jacks, RWM, MFA, MFA-P, FDFS on February 2, 2026
Estimated reading time: 6 minutes

Emigrating comes with a slew of tax considerations, from filing a final return to possible departure taxes. Here’s what you’re in for if you take the leap.

Thinking of moving to another county? If you’re leaving Canada, there could be expensive tax consequences before you leave and officially become a non-resident. You’ll have to file a final Canadian tax return and/or a host of related forms and will likely need some specialized tax advice. Here’s what you need to know.

Canadian residents must report their “world income” in Canadian funds. When they become non-residents, they must file a final tax return as of the date of emigration to report income for the period of residency in Canada and, in some cases, pay a departure tax.

To begin, if the fair market value (FMV) of all property owned as of the date of emigration is more than $25,000, you’ll need to fill out and submit form T1161 List of Property of an Emigrant to Canada. This document must be attached to your T1 return. In fact, even if you don’t file a T1, failure to file this form by your tax filing due date will attract penalties.

To calculate a capital gain or loss on your deemed disposition, complete form T1243, Deemed Disposition of Property by an Emigrant of Canada and attach it to your T1 return. Some exceptions apply in both these cases, discussed below.

Should you owe money upon departure, but can’t pay because you haven’t........

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