Tool

The day you leave Canada, how big is the bill?

When you cease to be a Canadian tax resident, Canada generally treats certain property as disposed of at fair market value. You may have a taxable capital gain even without selling the property or receiving cash. This tool provides a deliberately conservative, high-side estimate for a BC resident and helps identify items that need specific review — it does not determine your residency status or calculate your actual departure return.

The amounts you enter are calculated in your browser only and are never sent to Lucid; no sign-up required.

Short-term resident exception: if you were a Canadian tax resident for 60 months or less in the ten years before departure, some property you owned before immigrating — or inherited afterward — may be exempt from the deemed disposition. This tool does not model that rule; if it applies to you, the actual exposure may be substantially lower than the result below.

Deemed sold on departure

Enter all amounts in Canadian dollars; convert foreign values and costs at the exchange rates of the relevant dates. Newcomers: the value on your immigration date may form your Canadian tax cost — not the original purchase price.

Stocks, funds — Canadian and foreign investments are usually both included; the short-term resident exception may apply

A formal valuation is needed at the time — use your best guess here

Overseas investment property, crypto; Canadian real estate does not go here

Not deemed sold on departure

Canadian real estate

Stays in Canada's tax net; taxed when actually sold (via the non-resident clearance process). In certain situations a taxpayer can elect to include it in the departure disposition

RRSP / RRIF

Keeps its tax-deferred status; withdrawals face non-resident withholding tax

TFSA

No departure tax — but the destination country may not recognize its tax-free status

Life insurance policies

Some Canadian life policies may fall under exceptions; segregated fund policies and foreign policies need specific review

This is a simplified educational estimate: it applies BC's top marginal rate of 53.5% and 50% inclusion to all taxable gains; gains and losses are simply netted, and loss rules for special asset classes may differ; the short-term resident exception (60 months or less in the ten years before departure) is not modelled; it ignores your actual bracket, other income in the departure year, employee options and special asset classes, tax treaties, and the destination country's treatment. Departures stack two countries' rules — this tool is for thinking about magnitude, not tax or financial advice.