If at all somebody wants to return to Canada after becoming non resident, I have read on this web site forums that there is a benefit of not returning within 5 years. It has got to do something with CRA's 10 year rule. I have read it but not able to understand clearly understand its significance.
Would it be possible to explain in easy terms what the benefits are of not returning within 60 months from leaving Canada
Significant of not returning to Canada within 5 years.
Moderator: Mark T Serbinski CA CPA
I know of no regs or strategies that involve returning (or not returning) to canada beofre or after the 60 month mark. There is certainly no impact on residency related to such a time frame.
There are some advantages to to LEAVING canada within 60 months of arriving in canada, such as assets held before arrival will not be subject to deemed disposition, if one leaves canada within 60 months, and other foreign trust issues.
Maybe you could point out where you you gathered this inference?
There are some advantages to to LEAVING canada within 60 months of arriving in canada, such as assets held before arrival will not be subject to deemed disposition, if one leaves canada within 60 months, and other foreign trust issues.
Maybe you could point out where you you gathered this inference?
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best