Canadian Departure Tax

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Marco918
Posts: 2
Joined: Fri Jul 07, 2017 4:53 pm
Location: Quebec City

Canadian Departure Tax

Post by Marco918 »

in 2009 i left canada and filed all documentation., paid personal tax except for deferred departure tax on capital gain for investment company I continued to own.

For the years 2010 to 2015 I would sell investments, pay corp tax then pay myself a dividend with 15% withholding.

In 2016 I sold all investments in company, paid corp tax, closed company, surrendered charter and distributed cash via a wind-up dividend with withholding tax paid.

Since I have paid tax on wind-up of corporation, am I still liable for departure tax on this deferred gain which in my mind nolonger exists.
death before dishonor
Marco918
Posts: 2
Joined: Fri Jul 07, 2017 4:53 pm
Location: Quebec City

Post by Marco918 »

took a few months but I got a positive reply from CRA ... and definitely, you get reduction in departure tax !!!!!!
death before dishonor
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