Move to US and deemed disposition of assets

daisy211 · Post by **daisy211** » Mon Aug 30, 2010 4:14 pm

I am a dual US/Cdn citizen. My husband is US citizen and Canadian resident. I have a corporation in Canada (own 27%). We'd like to move to the US for a few years. Do I have to go through a deemed disposition of assets before leaving Canada? My work would bring me back to Canada on a regular basis. We also own a home in Canada.

nelsona · Post by **nelsona** » Mon Aug 30, 2010 6:40 pm

If you move to US you will be subject to deeming. Of course, not all holdings are subject to deemeing. Typically Cdn private companies, since they remain taxable in canada, are not subject to deemed dispostion.

nelsona · Post by **nelsona** » Mon Aug 30, 2010 6:41 pm

Just on the fact that you will have a home and visit in Canada regularly. CRA is agressively deeming such people non-residents.

Best to do it your self.