Episode 78: Leaving Canada: What 106,000 Departures Reveal About Tax, Residency & Exit Planning

What does it really mean to leave Canada — and how do you know when you’ve crossed the line from spending time abroad to officially exiting?

Host Gerry Scott sits down with Jennifer Reid CPA, CGA, TEP andFrank Casciaroof RSM, two cross-border tax specialists who advise Canadians navigating complex international lives — from snowbirds and dual citizens to executives, business owners, and globally mobile families.

With deep experience in international tax and firsthand insight from working with clients before, during, and after a Canadian exit, Jen and Frank break down why leaving Canada is not just a lifestyle decision — it determines how your assets are taxed, what reporting obligations follow you, and where costly compliance mistakes often happen.

Together, Gerry, Jen, and Frank unpack the realities behind some of the most misunderstood rules in Canadian departure planning, including why residency is rarely as simple as counting days or keeping a Canadian mailing address.

In this conversation, they explore:

• Why more than 106,000 Canadians left the country in 2025 — and what’s driving the trend

• The difference between being a factual resident and a non-resident of Canada

• Why spending a few months abroad doesn’t automatically mean you’ve exited

• What departure tax and “deemed disposition” really mean in practice

• Which assets are subject to departure tax — including worldwide holdings, not just Canadian ones

• When deferring departure tax may be possible, and why it’s becoming harder to do

• How the Canada–U.S. tax treaty can help prevent double taxation — and where it falls short

• Why health care eligibility (including OHIP) is not tied to your tax return

• The compliance risks of keeping Canadian bank accounts, investments, or a family address after leaving

• TFSA, RRSP, and withholding tax issues that frequently catch departing Canadians off guard

• Why planning before you leave is far less expensive than fixing mistakes afterward

If you’re living, working, retiring, or investing outside Canada — or considering a permanent move — this episode offers a clear, practical look at what truly defines a Canadian exit and the planning steps that can save you from expensive surprises down the road.