3 skills across 1 job. Each skill is authored by an accountant; the ones more colleagues stand behind rise to the top.
Departure tax when an individual stops being resident in Canada: the deemed disposition of shares (including private company and CCPC shares) and other property on emigration, what is excluded (Canadian real estate, RRSP, TFSA and other plans), Forms T1161, T1243 and T1244, deferring the tax with security, the final return for the year you leave, registered plans, and unwinding if you come back. Triggers: "departure tax Canada", "leaving Canada taxes", "emigrating from Canada", "T1244 security", "deemed disposition on emigration".
Canada individual tax residence: factual residence and residential ties, the sojourner deemed-residence rule, treaty tie-breakers and deemed non-residence, arriving and leaving part way through the year, departure tax and its reporting and deferral forms, Part XIII withholding, the section 216 and 217 elections, and residency opinion forms NR73 and NR74.
Use this skill whenever asked about Canada Form T1135, Foreign Income Verification Statement, specified foreign property, foreign asset reporting, the $100,000 cost amount threshold, the $250,000 simplified-versus-detailed reporting boundary, or how to classify foreign accounts, foreign securities, foreign real estate, foreign trusts, and other foreign property for a Canadian resident taxpayer. Trigger on phrases like "T1135", "foreign income verification statement", "specified foreign property", "foreign assets over 100000", "do I need to file T1135", "foreign bank account reporting Canada", "US brokerage T1135", "foreign rental property T1135", "simplified T1135", "Part A Part B T1135", or any question about whether a Canadian resident individual, corporation, trust, or partnership must disclose foreign property. ALWAYS read this skill before touching any Canada T1135-related work.