1. Emigration from Canada.
- Author
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Dolson, H. Michael and Goguen, Siobhan A. M.
- Subjects
TAX laws ,IMMIGRATION status ,TAX rates ,RELOCATION ,JURISDICTION ,FOREIGN investments ,TAX consultants - Abstract
Ceasing to be resident in Canada, and commencing residence in a foreign jurisdiction, gives rise to both tax and lifestyle considerations. While the minimization of Canadian departure tax and tax liabilities is important, so too are the former resident's access to health care, testamentary freedom, personal safety, civil liberties, and general quality of life. This paper examines the tax and non-tax tradeoffs when substituting Canadian residency for residency in popular foreign destinations. We conclude by arguing that Canada should not follow the lead of other countries in adopting tax holidays and fast-tracked immigration status for wealthy foreign investors. [ABSTRACT FROM AUTHOR]
- Published
- 2022