Moving to US | RSU - Tax Implications

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Joined: Thu Jan 28, 2021 6:57 pm

Moving to US | RSU - Tax Implications

Post by maverick_TO »

Hi All,

I will be moving to the US (sometime in 2022), and have questions on RSUs that I have been granted by my employer. Considering that I have not sold any of the RSUs, but have been taxed (in Canada) when the RSUs were granted, my questions follow-

(i) Will it be more tax efficient to sell the vested RSU grants while I'm still a resident of Canada v/s selling them after I move? In the event that I sell them after moving to the US, do I pay taxes both in Canada and the US?
PS: I ask since the RSUs have been appreciating in value, and there's more potential that I see for a rise through 2022

(ii) I know that there is a departure tax that I will need to pay to Canada in 2022. In the event that I sell the RSUs after moving, does the amount need to be reported towards the departure tax filing? Also, what portion of the amount (Say for instance the grant was $100K and the stocks have since appreciated $20K for a total value of $120K, do I pay taxes on the entire $120K?) is taxable?

Many thanks!
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