Retiring abroad is an exciting prospect — warmer winters, lower cost of living, proximity to family, or simply a new adventure. But leaving Canada without a proper financial plan can result in significant, unexpected, and entirely avoidable tax consequences. Departure tax, withholding tax on Canadian income, RRSP and TFSA complications, and ongoing CRA filing obligations catch many Canadians completely off guard.
Joanne David CFP® FCSI works with Albertans and Canadians worldwide who are planning — or have already made — the move abroad. She understands the full scope of Canadian non-resident tax rules and builds plans that protect what you've built, minimize your tax burden, and set you up for a clean, compliant departure and a financially secure life abroad.
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✓ Departure Tax Planning
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Understanding and minimizing the deemed disposition tax triggered when you leave Canada. Timing your departure, structuring asset disposals, and using principal residence exemptions can significantly reduce this one-time tax hit.
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✓ RRSP Strategy for Non-Residents
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You can keep your RRSP as a non-resident, but withdrawals become subject to Canadian withholding tax. We help you plan strategic drawdowns before departure, understand tax treaty implications, and optimize the long-term management of your RRSP from abroad.
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✓ TFSA Planning Before & After Departure
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As a non-resident, you cannot contribute to your TFSA without penalty — and some countries (notably the US) don't recognize its tax-free status. We help you decide whether to withdraw, maintain, or restructure your TFSA before you leave.
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✓ Withholding Tax on Canadian-Source Income
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As a non-resident, Canadian pension income, RRSP/RRIF withdrawals, and other Canadian-source payments are subject to withholding tax — typically 25%, reduced by tax treaty. We help you understand exactly what you'll owe and how to minimize it.
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✓ Notifying CRA of Your Departure
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There is a right way and a wrong way to notify CRA of your residency change — and the timing matters. We guide you through the proper process to ensure your departure is officially recognized and your Canadian tax obligations are clearly established.
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✓ Investment Portfolio Restructuring
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Many Canadian brokerage accounts cannot be maintained by non-residents. We help you review your holdings before departure, identify what needs to change, and restructure your portfolio to work effectively from your new country of residence.
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✓ CPP & OAS for Non-Residents
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You are still entitled to CPP and OAS as a non-resident — but these payments are subject to withholding tax and must be properly reported in your new country. We help you optimize the timing of these benefits and understand your cross-border tax obligations.
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✓ Ongoing Canadian Tax Filing Obligations
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Depending on your Canadian-source income, you may have ongoing CRA filing requirements even after you leave. We help you understand exactly what you need to file, when, and how to keep your Canadian tax affairs in good order from abroad.
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✓ Snowbirds & Part-Year Residents
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Splitting time between Canada and another country — particularly the US — creates its own set of tax complexities around residency status, the US 183-day rule, and provincial health coverage. We help you structure your time and finances to stay compliant in both countries.
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Start Planning at Least One Year Before You Leave.
The single most common mistake Canadians make when retiring abroad is not planning early enough. Most of the best strategies — timing your departure, drawing down registered accounts, restructuring investments, and filing properly — require at least 12 months of lead time. If you're thinking about leaving Canada, now is exactly the right time to start the conversation.
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