Before making any decisions regarding residency for tax purposes, learn the combined effects of tax laws of Canada and your future country of residence.
When emigrating from Canada, under certain circumstances, it is to your advantage to maintain sufficient ties with Canada to remain a Canadian resident for a period of time. For example, you emigrate from Canada late in a calendar year and you have substantial Canadian income, but minimal or no other world income. On the date you become a non-resident, you will generally be deemed to have disposed of all your taxable Canadian property at fair market value. If you have properties with substantial unrealized gains, by delaying emigration from Canada until the beginning of the subsequent calendar year, you can defer realizing the gain until the subsequent year when your income may be lower. Thus, some of the gains may be taxed at a lower rate.
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