When an individual immigrates to Canada, there is a deemed disposition/reacquisition at fair market value of most of their capital property.

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This is known as the "departure tax" and applies to assets such as real estate, investments, and business interests. It is meant to ensure that individuals who leave Canada are subject to the same tax consequences as if they had sold their assets before leaving. However, there are certain exemptions and deferrals available depending on the situation.

When an Individual Immigrates to Canada, There Is a Deemed