How to Prepare for the Relocation Abroad? Part 2 ( for Canadians)

How to Prepare for the Relocation Abroad? Part 2- Taxes for Canadians.

📌 Part 2, what Canadians need to know about Taxes (tax strategy, double tax treaty, Exit/Departure tax, etc.)

🗺 Many people are not aware and need to learn about the new for them rules and processes when considering relocation abroad.

While Americans pay their taxes to IRS regardless of the country where they live, the taxation situation is different for Canadians. The best advice- connect with account professionals with experience in international taxation.

From this perspective, people's questions at the beginning of preparation for relocation are the same:

🤷‍♀️ What are the first steps for me?

🪂 How to do it? Who to ask?

🧭 What is the order of required steps?

🗺 Where to find correct information or the answers for this (other questions) for my particular family situation?

✔ One of my first questions when speaking with my clients: are you aware of the Exit/Departure tax and other taxation obligations to your Home Country?

✔ Do you have a tax strategy to deal with your assets, estate and different types of savings at Home?

👩‍💻To help clarify the essential questions above, I am offering my following online interview with Justin Abrams, CPA, CA Tax Partner and Senior Tax Manager at Kraft Berger LLP Chartered Professional Accountants in Markham, Ontario

Adam will share what Canadians need to know about Taxes before starting a new life chapter abroad.