Crypto on emigration from Canada — do I need an adviser, or can I do it alone?
Some of it, yes — and we will say so on the call if that is the honest answer. The parts that are worth paying for are the ones where a missed election, a missed deadline or an unverified threshold costs more than the fee: the deemed disposition applies to capital property held on departure, and the reporting of properties owned on that day includes it.
What if I have already filed and got it wrong?
That is a common starting point. We re-derive the position, identify whether an amendment or a disclosure route is the right vehicle, and tell you which one preserves the relief that is still available. The order matters more than the speed.
How long will it take?
It depends on the documents rather than on us. Once the pack is complete most filings turn around inside a fortnight; anything that needs a certificate from a tax authority runs on that authority's timetable, which we tell you at the start rather than at the end.
Does leaving Canada trigger tax on crypto I have not sold?
Ceasing Canadian residency generally triggers a deemed disposition of most property at fair market value, and crypto is treated the same way as other capital property for this purpose. That means an unrealized gain can become taxable in the period you leave even though you have not actually sold anything. We calculate the exposure before the departure date so it is not a surprise on the return that follows.
Are any crypto holdings excluded from the departure tax calculation?
Certain categories of property are excluded from the deemed disposition rules that apply on emigration, and whether a specific crypto holding falls into an excluded category depends on how it is characterized and where it is held. This is assessed asset by asset rather than assumed to apply across an entire portfolio, so we review each holding against the exclusions before finalizing the calculation.
Can tax on unrealized crypto gains be deferred when emigrating?
Deferral options exist for the tax arising on a deemed disposition, generally by posting security for the amount owing, and crypto can qualify depending on how it is held and valued for that purpose. Valuing a volatile asset like crypto for security purposes needs care, since the value used at departure may differ materially from the value if the security is later called on.
Do I pay Canadian tax if I live abroad?
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.
When does my Canadian tax residency actually end?
On the day your residential ties are severed, which is a question of fact rather than of the date on the boarding pass. The CRA weighs the significant ties first — a dwelling available to you, a spouse or common-law partner, and dependants in Canada — then secondary ties such as licences, memberships, accounts and provincial coverage. Keeping a home available while your family stays is the pattern that most often means residency never ended at all. See departure tax on leaving Canada.
