Question
Hey Cam, I just received an offer from a US company to go work down in California, and I’m trying to figure out how this is going to work for tax purposes. I plan to close my TFSA, leave my RRSP accounts as-is, and get rid of my Canadian drivers license, bank accounts, and sell my personal residence.
Would this make me a non-resident for tax purposes? If it takes a while to sell my house, will there be any issues with capital gains?
Answer
Based on what you’ve detailed here, you would indeed be treated as a non-resident for Canadian tax purposes.
One thing to watch is that if you sell the house as a “non-resident”, there are a bunch of Canadian non-resident tax rules that you’ll need to comply with. (Part XIII etc.)
More Reading
https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leaving-entering-canada-non-residents/non-residents-canada.html