If you hold it as capital property, yes. Departure triggers a deemed disposition of property you own on that day, and crypto is inside it. Nothing is sold, no cash arrives, and the tax still falls in the departure year. The property you owned on the day also has to be reported. The practical difficulty is rarely the rule itself; it is proving what the holding was worth on that single day, which is why the valuation file is the part worth doing properly and doing at the time.
Crypto on emigration from Canada — what should I check first?
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The deemed disposition applies to capital property held on departure, and the reporting of properties owned on that day includes it. One question decides whether this is a filing or a project.
What to check first
The deemed disposition applies to capital property held on departure, and the reporting of properties owned on that day includes it. Documenting the source, exchange and time of the valuation used is what makes the figure defensible later.

The exception worth knowing
Crypto is inside the departure-day deemed disposition, and unlike a listed share it has no unambiguous closing price — so valuation evidence is the whole exposure.
What to do next
The full treatment — who it binds, the deadline, the penalty and the fixed fee — is on Crypto on emigration from Canada. Ask before the move rather than after it, because most of the useful options expire on the date.
Reviewed against current guidance for the 2025 and 2026 filing seasons by Udit Gupta, International Tax, Cross-Border Tax & Transfer Pricing Expert, Legal Quotient Consultants. General information, not advice for your circumstances — call our 24-hour helpline to discuss your own position.
Cross-border situations we are engaged for
Departure-day valuation file built while the wallets were still open
A client with holdings spread across several exchanges and more than one hardware wallet came to us before the move. We inventoried every address and account, fixed a single source and time of day for the valuation, and captured the raw quotes for each asset on the departure date as they stood. Where a token traded in more than one place we recorded the spread and the reason for the venue chosen. The engagement produced a dated valuation file, a property inventory for the departure-year reporting, and a method note explaining every choice made.
Read how this one runsHistorical prices reconstructed for a client who had already gone
A client contacted us long after leaving, with no record of what the portfolio had been worth on the day. We rebuilt the position from chain data and archived account statements, then sourced dated market data for each asset and documented where each figure came from. Reconstruction is weaker evidence than contemporaneous capture and we said so in writing rather than presenting it as equivalent. The engagement produced a computation, a candid note of which figures rest on archived third-party data, and a file the client can produce if the return is examined.
Read how this one runsValuation method settled first for a thinly traded token
One holding in a departing client's portfolio had no meaningful market on any major venue, so the usual order of work was reversed and we decided the valuation approach before touching the return. We looked at where the token traded at all, what volume stood behind each quote, and what a buyer would realistically have been able to absorb on the day. The engagement produced a written methodology, the supporting market data, and a valuation the client filed together with a description of the approach taken rather than a bare figure.
Read how this one runsScattered balances reconciled into one inventory of property owned
A client believed the portfolio sat entirely in the accounts they traded through. The chain said otherwise: several old addresses still held small balances, and an amount was locked in a lending arrangement the client had stopped thinking about. We reconciled every address and account into a single inventory as at the departure date and valued each line on the same basis. The engagement produced a complete schedule of property owned on the day, a valuation supporting each line, and a note on the locked holding and how it was treated.
Read how this one runsA later enquiry abroad answered from the original departure file
Some years after leaving, a former client was asked by the authority in their new country to substantiate the basis of a holding they had just disposed of. The departure file already contained the inventory, the valuation source, the timestamps and the method note. Our work was limited to translating that file into the form the local authority wanted and explaining the Canadian rule that had produced the figure. The engagement produced a submission that closed the enquiry without any change to the disposal computation.
Read how this one runsStaked and locked holdings characterised for the departure return
A departing client held a large amount in a staking arrangement that could not be unwound on the day, plus a position pledged as collateral. What was owned on the departure day was therefore a question in its own right, before the value of it could be settled. We worked out what the client held, what had been given up, and what was merely illiquid rather than disposed of. The engagement produced a characterisation note for each position and a departure-year computation treating illiquidity as an evidence problem rather than a discount.
Read how this one runsLeaving Canada — the Bill You Get for Assets You Still Own
Emigrating triggers a deemed disposition of most holdings, which produces tax on gains never realised in cash. The file values the property, identifies what is excluded, and looks at whether security can be posted rather than the tax paid outright.
Read how this one runsA Distribution From a Trust Set Up Abroad
A distribution can be capital in the trust's country and income here, and the reporting attaches to the beneficiary rather than the trustee. The work is characterising the payment before it is received where possible.
Read how this one runsAll case studies — every published engagement in one place.
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What people ask us about Crypto on emigration from Canada
A defensible one, chosen deliberately and recorded. Unlike a listed share there is no single closing price to look up, so you are selecting a source rather than reading one off. Decide which venue or index you are using and why, fix a time of day and apply it consistently across every holding, and keep the raw data you took the figure from. Two reasonable people can reach slightly different numbers here, and that is survivable. What does not survive examination is a figure with no method behind it.
Choose by where the asset actually traded in meaningful volume, not by whichever venue shows the most convenient figure. For a widely traded coin, a major venue or a recognised composite is straightforward to justify. For a thinly traded token the choice needs more thought and more documentation, because the spread between venues can be wide. Whatever you pick, apply it consistently, record the venue, the timestamp and the raw quote, and note why that source was appropriate for that particular asset.
The reporting of property owned on the departure day includes it, so it has to be inventoried rather than assumed away because no exchange issued a slip. That means every wallet and every account, including holdings you had forgotten about and balances locked in staking or lending arrangements. Build the inventory from the chain and from account statements rather than from memory. The inventory and the valuation are the same exercise approached from opposite ends, and doing them together is considerably faster than doing them apart.
Self-custody changes the evidence, not the rule. The holding is still yours on the departure day and still has to be valued, but no third party will confirm the balance for you, so the chain record has to do it: the addresses, the balance as at that point, and a note tying the addresses to you. Then value the balance using the source and timestamp you chose for the rest of the portfolio. Capture all of this while you still have access to the wallet and the software that reads it.
The departure-day value becomes the reference point for everything that has happened since, and your new country will usually want to know what you paid, or what you are treated as having paid, for the holding. If the departure file was built properly, that question is answered by opening a folder. If it was not, you are reconstructing a historical price under pressure, in a second country, with a different authority asking. This is the main reason the valuation work is worth doing at the time rather than later.
On the day you stop being a resident, you are treated as having sold most of your property at market value and are taxed on the resulting gain, even though nothing was sold. Several categories are excluded, including Canadian real property, registered plans and certain pension interests. Payment of the tax on the deemed disposition can be deferred by election with security, and property above a value threshold is listed on a departure schedule. See departure tax on leaving Canada.
Only if you remain a Canadian tax resident. Residency follows your ties rather than your address, so leaving while your home and family stay usually does not end it. Non-residents remain taxable on Canadian-source income — employment or business income earned in Canada, dispositions of taxable Canadian property, and passive amounts subject to withholding. The year you leave is its own exercise, with a deemed disposition and its own schedules. See leaving Canada.



