Retiring Abroad? TAX ISSUES You Need To Know

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Emigrating from Canada is more complicated than you might think, so we'll go through some common questions that Canadians have on the process. We are joined by Christopher Dyck who is a Partner at Avisar CPA in Langley, British Columbia who is an expert in this field.
If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your retirement plan on track.  You can learn more about our services at www.parallelwealth.com/planning
Financial Resources I personally recommend:
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OUTLINE
0:00 - Intro To Christopher Dyck
0:45 - What Is a Non-Resident?
1:35 - Should You Notify Anyone?
2:44 - What Should You Do Before Leaving?
5:19 - How Is Income Treated As Non-Resident?
8:42 - What Happens To RRSP?
11:02 - What Happens To Benefits/Credits?
11:50 - Do You Have To File Canadian Tax Return?
This presentation is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter. Every effort has been made to ensure the accuracy of its contents. Certain of the statements made may contain forward-looking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Returns are not guaranteed and past performance may not be repeated.
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.
#retirement

[@MikeBikerKickstand]

Wife and I just retired and can't wait to get out of Canada. The CRA might try and tax me, but they actually don't know where my money is located. Been planning this for 20 years now.

[@sialee5926]

Good for you both! I would like to migrate to the US.

[@davidbuchan3753]

I hope they catch you, tbh. I enjoy Canada and am honoured to live here and pay tax for the life I’ve led here…

[@MikeBikerKickstand]

I've done nothing illegal. I've been planning this for more than 20 years. You gotta know how to play the game to get your money out of the country. Don't be pissed off cause you're stuck here with your hand out asking the government for more. Trust me, in 10 years inflation in this country will crumble your retirement savings. Good luck.

[@TWOB1GUNZ]

​@@davidbuchan3753your okay with the current healthcare? Car thefts? Home invasions? And no protection from the police?....I'm just asking

[@dinnerwithfranklin2451]

@@TWOB1GUNZ That isn't the responsibility of tax, that is the responsibility of the governments we elect.

[@CLdriver1960]

Canada left me…

[@dinnerwithfranklin2451]

Same here.

[@harlyredhonda9938]

So what would be the benefit /drawback of not telling the government if I’m living in a foreign country If I’m going to be taxed on the way out I don’t see a win here. What’s the benefit of living in Canada a lot of people say medical but when it takes six months to do anything three weeks to see your doctor! The Tierney and taxation of this country is not worth staying for!

[@vertablue3803]

Ah, really!! You obviously aren’t Canadian and don’t get it, if you are let me show you the door!

[@katalystc1268]

@@vertablue3803 you sound like a patriotic bafoon

[@deckmonkey1459]

There is no winning against them. If you don't report it they will eventually find out and of course double what you owe in fines. Not a big deal if you're never coming back and the country you go to doesn't have a tax treaty with Canada. If they do, I'm pretty sure the new country will just collect it for them. It's not a question of if it's worth staying, it's where can you get citizenship? You'll need a passport at some point and I don't expect it's going to be easy in the near future to renew a Canadian one if you become a non-resident. You can get amazing medical coverage in the US for less than $500/month and immediate service. If you live where there is no State income taxes you only pay 13% Federal tax and 7-8% sales tax. I was only on disability for 18 months waiting for hernia surgery, our healthcare can't be beat. It was pretty damn nice to have 2 summers of fishing whenever I wanted, though.

[@passportmarc]

@@deckmonkey1459non resident doesn’t mean they can take away your passport

[@deckmonkey1459]

@@passportmarc You missed the conversation. It was about if you left and owed the government after you left. You wouldn't be able to go back with out being arrested, so you could not renew your passport.

[@sergec.2014]

About Tax Treaties...I have been fighting CRA for 3 years now about the treaty they have with South Korea. I have lived and worked in South Korea for 13 years. CRA are refusing to honor the treaty between Canada/South Korea enacted in 1977 and still in effect. They also dock my OAS, again refusing to honor the 1977 treaty. And they refuse to ajust my CPP, again ignoring the 1977 treaty. So...In my opinion treaty or no treaty...If the CRA refuses to honor them; what are there use? In more blunt terms...this government does what ever the hell it wants.

[@thepmanvan111]

Yeah Canada steals from you.

[@550owner]

I assume you're retired in Korea. At what rate are being taxed there?

[@sergec.2014]

@@550owner Not at the moment, but the plan is to get the hell out of Canada soon. I returned in 2021, with my Korean wife of 12 years. The plan was to buy a country piece of land. Ha...that became a pipe dream in a hurry...in Canada. Plus all the delays and applications and bureaucracy...plus the immigration fiasco concerning my wife. It was not long before we saw our savings dwindle...and we are frugal people. In any case as long as the idiot in power is there...we will go back to a country where common sense is not over ridden by half-wit ideology, greed, and lust for power. I am not saying that South Korea is perfect, and it really hurts that I do not feel at home in Canada, my native land, any more but...I have to consider my wife's age and my age. So...South Korea is a good place.

[@deepblueglass]

Could you elaborate a bit on what kind of issues you are having with CRA? Are they withholding full 25% from CPP and OAS? I’m considering retiring to Korea as well. Thank you.

[@mariapawlicka2487]

This is unbelievable! I am planning to move to Poland hoping all will go ok. What I'm reading about CRA and treaty agreements it is scary....

[@anikomiles4260]

noone really talks about dual citizenship. and taxes. maybe your next segment should be about that.

[@abdulios]

Residential ties is what matters, having citizenships in more than one country isn’t really a primary factor CRA looks at, though it might be a secondary one if none of the primary ones are met, like what the cpa mentioned near the beginning of the video.

[@claudelessard2222]

I am serving in the military and the irony is that I can’t afford to retire in the country I have sworn to protect!

[@SolutionsWithin]

Someone I met just got back from Newfoundland and he bought a house there for $300K. Beautiful place. Can’t be beat.

[@nimacastro7664]

Mark Twain says : loyalty to country always, loyalty to government !? Only when it deserves it.

[@exoskim]

In New Foundland with top-notch health care and cultural amenities! ​@SolutionsWithin

[@SolutionsWithin]

@@nimacastro7664 Well, right wingers say they don’t like govt getting involved in capital markets and would prefer corporations to regulate themselves, so they should be happy currently everything’s going swimmingly. Considering they can’t show any specific things govt has done lately that they don’t like, I’m left assuming right wingers are under US style propaganda brainwashing.

[@MegsCarpentry-lovedogs]

A presentation very much needed.....and you probably just scratched the surface. Good introduction to get things started...right on Adam! Nice topic choice✔😊🇨🇦

[@jpy4692]

Hi Adam: Thanks for the detailed videos on this subject, really enjoyed it. One thing I might add is that even though you are subject to a withholding tax, 15% to 25% depending on the tax treaties, you can still file a tax return and claim you basic personal amount ($ 14,398) + age amount ( $ 7,898) + the pension income amount ($2,000) ( all amounts are based on 2022 numbers, and are non-refundable tax credit) Also, you can elect to file under section 217 to reduce the withholding tax. Hope this helps. Cheers! JPY

[@SolutionsWithin]

Yes, normally the blended treaty tax will only be the same amount it would have been if only one of the countries was taxing u. That’s part of why they have the treaty.

[@oleandra3759]

I know this is just a snippet, but I’d love to see you do a course on this and even specifically about going to specific countries starting with the most popular to the second most popular, etc.

[@jasonmedhurst4725]

I thought I had everything in order for when I left. It never crossed my mind my home buyers plan. Talk about a nice tax bill

[@GaneshD123]

Excellent!

[@raymondlowon7799]

When you fill out a form 217 and NR5 at tax time you can reduce the amount of withholding tax or get it all back

[@jaideedave]

Correct. I'm amazed that so few people are aware of this. A non resident friend told me about it and now my withholding tax is 0%.

[@SolutionsWithin]

@@jaideedave As far as I know, they only withhold money if u own more valuable assets other than your primary residence. They will charge capital gains on secondary + properties that have gone up in value. It’s almost the exact same thing as dying. They want the same cap gains as they would get it divested. If people don’t divest and just take off, that’s when people get upset from getting into trouble because they should have filled out the form and obeyed the rules BEFORE they left. They will then get charged much higher taxes and it can be extracted from their new domicile country’s tax bill and the persons bank. People don’t realize the US runs almost the whole world banking system now, so finances are accounted for if people go to almost any allied nation. .US wants Canada to collect lots of tax so they can pay more into nato.

[@azamarabear]

Thx for upload 😮

[@eldaparedes1261]

wonderful information. Thank you very much for your time and dedication. Would you be able to mention some tax specialists in dual-citizenship to contact for professional advise?

[@dipzdes2480]

Thnx so much for this video 👍

[@ParallelWealth]

Most welcome 😊

[@firstfast733]

At what point are you forced to become a non resident and what are the benefits

[@jimbryce2498]

Good video with excellent information. When you sever ties with friends which is difficult to prove, what happens if you have a brother who lives in Canada? Is this grounds for CRA to still consider you as a resident?

[@chantalp.146]

Just stumble on your videos! Thank you I would have a question 🙋🏻‍♀️, not sure I understand the with holding at source and the greater of the two…. Does it mean that if I move to MX and the income tax is 20% that is what I will be taxed on? Or will I be taxed 15% in CA then and other 20% in MX?

[@mebar3582]

Very informative ❤

[@ParallelWealth]

Glad it was helpful!

[@peaceandharmony581Jay]

Great information. Where can i get a list of cross border tax accountants?

[@Bittersweet721]

What will happen to your TFSA when you become a non resident?

[@LEE-PHAM]

Thank you for your video. How about if moving to a country without tax treaties? Thanks again for your answer.

[@SolutionsWithin]

The you’re probably in the clear unless u ever want to come back to Canada. That’s when they’ll get their dues. It’s always better to just follow the process properly just like anything else in life. There’s no capital gains tax in primary residences. Just fill out the form and inert the rules and you’ll be glad to be good.

[@jasonhoffman9607]

Maybe give us some examples of countries that it does pay to leave Canada for. That may be a great video.

[@JD-gv4uz]

Nomad Capitalist

[@m0jomm835]

Monaco bro or Dubai

[@xsykedelix3766]

what about a ledger nano BYOB (crypto)? alot of people in canada have them. and their money is held in USD...

[@marcelmed4574]

Hi Adam, wondering if you could model a RRIF Or RRSP meltdown with and without early CPP/OAS. Registered funds would go into Canadian dividend paying stocks to take advantage of the Canadian dividend tax credit. Potentially wiping away a major part of taxes owed.

[@ParallelWealth]

Dividend tax credit would only help if you didn't need the income and maxed out TFSA. So doubtful for most. The small credit would never wipe out the tax savings. We have done many plans like this for clients, and typically larger non - reg accounts where there is even further drawdown planning.

[@jovicrazed]

Thank you for making this video. I haven't watched it yet but am sure it will be helpful. I had asked for a video about accessing investments (mutual funds, etc.), CPP, etc., if moving abroad, so thank you!

[@ParallelWealth]

It's hard to find. We have had a lot of viewers move to BCV as they will service foreign clients. Most banks and mutual fund companies don't want foreign clients anymore.

[@captnflex5502]

@@ParallelWealth Banque National and their free courtage Courtage direct Banque National does accept Canadian non resident as clients. I had to transfer my Scotia bank and Itrade account to CDBN. So far good service and no cost to buy or sell stock and ETF’s

[@peterk5981]

The example with Mexico at approximately 8th minute of your video is misleading. 15% in Canada witholding tax cannot be partially recovered even if Mexico taxation is 10% so it is true that Canadian pensioner will loose 5%. However, you did not mention, that if same person decides not to retire to Mexico, she or he will likely going to be taxed at much higher level than 15% witholding tax, so for instance, if all accumutated pensions and OAS will be in the neighbourhood of 60 thousand a year, this amount will be tax much higher than 15% - therefore moving to Mexico allows to save money, not loose money.

[@user-wu5rg7jr5e]

How can I find someone to advise directly in Southern Ontario?

[@nikkian9254]

thanks so much for sharing this! would I need to file canadian taxes if I keep my principal residence in Canada (with my mother living in it?)~ the mortgage is under my name only. And say I didnt receive any Canadian sourced income (except from TFSA).

[@Dicofole]

Good question I would like to know also.

[@joanyhanson5886]

Please let me know how to decrease the percentage of withholding tax. He mentioned it, but did not provide the info.

[@ParallelWealth]

Joany, it will depend on where your income comes from. Whoever/wherever it comes from is who you talk to. For example, if it's CPP and OAS then you want to talk to My Service Canada.

[@SamChinawala]

Do we have any treaty with Malaysia or Philippines

[@marilyncrowley3303]

Please cover, immigrating INTO Canada from the USA, the only country excepting Gambia, who expects tax info earned outside its borders by individuals living outside its borders!

[@walkthroughhome7265]

As I know, if you stay in Canada for more than 183 days a year and go abroad the rest of days of a year, nothing changed for you as tax-residence.

[@betabot.]

what about stocks or crypto that you have not sold

[@Vparks]

Living in Mexico is no longer cheap, Asia and Africa should be your new place

[@ld5677]

If we work abroad, we don't need to file taxes in Canada, but only if we earn from Canadian resources. Does it mean that even that little income from Canadian bank account has to be filed as income taxes? Which I assume, YES, but do we report our income from abroad to Canada as well or just what we earn in Canada?

[@ld5677]

I didn't want to close the bank account, because I am not sure that I won't ever return back. I think that was my mistake?

[@SolutionsWithin]

@@ld5677 Yes, it’s always best to leave in good terms and obey all the rules or it’s usually more costly later.

[@FredBishopMusic]

What about a TFSA? Can you still have one if you are a non resident?

[@andreanelson8110]

I have read that you can keep your TFSA account, but can no longer contribute to it.

[@SolutionsWithin]

No, u can keep it but it’s not worth bothering because after u leave, you’re not allowed to withdraw the money as “tax free”. I think u could close the account and pay the tax or maybe transfer it to someone else’s name. The bast way to think about severing from ur country of citizenship and departure to have residency somewhere else, is that the govt looks at it exactly like death. All the affairs have to be squared away and paid in full for taxation before leaving or if they catch on later it will be worse.

[@jeanmckay6386]

As a landed immigrant to Canada (50+ years) what if I decided to move back to my home country part time (5 months at a time) . I am retired, have a HOOPP income. I am not yet collecting CPP or OAS. I own a house and have an RRSP I am still contributing too. Would I still have to inform Services Canada and the CRA?

[@ParallelWealth]

It will depend on time away and if you are considered a non resident or not. If yes, then everything in this video would apply.

[@RealChange-eh1gw]

Great video related to current times that we live in because the Canadian cost of living & living standards going down very fast. We are going down off a cliff very fast...!!!! It's better to have a great plan done with the help of professional like the gentleman's in the video..!!!

[@b.b.finsclara3589]

We need a TAX LAWYER!!!! NOT a TAX ACCOUNTANT!!! B I G D I F F E R E N C E !!!!

[@FredBishopMusic]

What happens if you leave Canada and become a non resident but still own land that requires a nominal tax payment yearly?

[@SolutionsWithin]

If it’s your primary residence then there’s no capital gains tax in it. If you’re leaving, you’re supposed to fill out the form. If u don’t do that and slip away, then when they find out, they will end up paying cap gains tax in it and will charge the amount that the market value is of it when they found out. If it’s a secondary property+ then let the do the calcs before you leave and pay the taxes or it will be more expensive later. After that is paid, it can be transferred into someone else’s hand if u like.

[@bidyutparnalourembamcarter3757]

If a Canadian citizen movecto another country and working there .Is he have to pay tax??if so how much?? Is he have to inform CRA ??and why??

[@SolutionsWithin]

Yes. All tax treaty nations do that.

[@ybc8495]

where will you go guys?

[@Gurkha9]

SE Asia

[@petergregory5537]

What if I leave Canada but leave my money in my accounts? I don’t own any real estate.

[@minoozolala]

It depends on the type of accounts you have. Savings and GICs are ok. Most others are not allowed for non-residents. Talk to your bank. Certain types of investments are also not allowed.

[@SolutionsWithin]

Anything that is warning investment interest/profit will have to pay capital gains tax when the account is closed or they figure out your domicile is no longer Canada.

[@fern8580]

lived experience 2024 : I am retiring in Europe, in return income Canada takes 25% of my Canadian retirement, so even if your retirement is 500.1000 per month, " income Canada" will take 25% of the amount. Not fair!

[@bjtowns9554]

Especially when you are not taking any benefits from Canada! or eligible for them ie GIS!

[@fern8580]

​@@bjtowns9554 Yes, I confirm with a simple example: if you receive in Europe a pension of 1000 CAD$ per month from Quebec, income Canada will take 25%, and your monthly check will be 750CAD$, Canada, Gabon etc. ..by their socialist and tax greed put an end to the free movement of citizens!

[@fern8580]

@@bjtowns9554 You've seen a lot of people "taking advantage of Canada" ?I hope you're joking.Above all, I saw in Canada a good big socialist state, with a caste of well-fed, well-paid civil servants.

[@mrofnocnon]

@@fern8580 And everyone else? Are they well said and well fed these days?

[@dipzdes2480]

How to take money to another country after selling home after retirement

[@jaideedave]

That's an interesting point. Can you bypass the taxes if you sell up a few years prior to emigrating? Planning ahead?

[@ricardosantos9960]

I lived long enough to see people leaving Canada to live in Mexico and Colombia. Interesting times

[@shakksaikia7643]

If I leave canada for few years and become a non resident and leave my stocks with TD Without selling them 🤔 do I need to file/pay taxes for them

[@kevinthailand2567]

Yes. TD will report automatically to CRA your investment income so at some point you will have to pay a tax bill and penalties for late filing. Best just to file annually

[@g.eeducation251]

What happens if you left when you were in your early 20s without doing any paperwork?

[@SolutionsWithin]

If u were a Canadian citizen when u left, then u were supposed to be completing a tax return every year while u were gone and paying tax on all income including international income. If u are now not living in a tax treaty country with Canada, then it probably won’t be a problem unless u ever want to come back. At that point, you’d be ineligible for social services or free healthcare for it might be a year, and you’d have to do all all all of your back taxes. If you’ve been making good money while away, than you’d need to hire a tax accountant that specializes in Canadian international tax and hire an immigration lawyer that maybe your accountant suggests so they can work together to help u fix it. In Canada there is not tax debtors prison, unless they can prove u we’re doing the taxes and purposely submitting false info to dupe them. Leaving at 20 and not knowing about these tax rules would probably never be in that category. lol. If you are currently living in a tax treaty country with Canada, then technically they can empty your bank account in the foreign country. Not likely tho since u’ve been gone so long. The only other time u could have a problem is if you do not have any other citizenship in another country and if Canada ever does a war draft/conscription, which they probably never will 💁‍♂ If your only citizenship was Canadian, it would be illegal (jail time) if u didn’t come straight back to Canada and enrol. Again, not likely!! 🧐

[@glenrobinson916]

It’s sounds really scary if the government is involved. There is a list of things that you really have to do or else risk big troubles? Why tell them anything?

[@SolutionsWithin]

All tax treaty nations are connected. They can empty the persons bank account in any country if they think someone is evading taxes. Taxes are what paid for u to have medial care your whole life and schooling and emergency services, and safety, and crossing guards, and community centres, annd safe roads, and and…. When people cut on taxes, they’re cutting on their community and people.

[@YYZLWO]

👍

[@Isabelle-no2tj]

Leaving Canada no longer the land of the free standard of living is decreasing fast

[@robertrobski1013]

Prices today are skyrocketing

[@josephrobi6806]

Interesting info 😅

[@brucegarrod8674]

Youre super fast... it was posted 4 minutes ago and its 13 minutes long! :)

[@josephrobi6806]

@@brucegarrod8674 aha lol I just listened few seconds because I was on the bed trying to sleep. But what I heard was enough to say that. I’m actually abroad and that video sounds good for me.

[@user-uj6sc7ls9y]

I don't get it. If I own shares in say, Amazon, Google...why would I be assumed to have sold and then reacquired them? If you have valuable stocks like that, you're going to keep ahold of them, no matter where you move to. So basically, the Canadian government is just taxing everything I own? "You're leaving Canada, so we're going to get money out of you." It's like making me pay to leave the country.

[@derekcox6531]

That’s exactly the point. CRA will make sure the Canadian government gets its cut of your total worth. Then you’re free to leave. Personally,I just spend half the year outside Canada, but I totally get why people leave.

[@JustGoAdventure]

And you paid tax on the income you made, on the very money you used to buy those investments in the first place. They double tax you. It’s pretty outrageous actually. Then if you come back, they treat you not like a Canadian, but as an immigrant. They get you coming and going. No wonder so many people are leaving

[@deckmonkey1459]

It's the same with real estate. If you sell your principal residence and make your camp/rental your new residence you are considered to have sold the camp/rental and owe tax on the capital gains. If you're not going to stay and pay for all the waste, they have to get everything they can before you go.

[@SolutionsWithin]

Severing from the country of your citizenship is considered exactly the same as the person dying (almost). All accounts have to be shored up and capital gains calculated at the point of severance and paid. Most countries do it. The idea is that the country give u healthcare your whole life, roads, libraries, hospitals, schools (educated you), military protection, emergency service, etc. that’s what tax is used for. For housing tho They don’t charge capital gains tax on selling of primary residence. Only rich people will have a real bill when they leave. Then, after leaving, if the country u go to is a tax treat nation with Canada, together they almost always will not charge. More tax from u on those earnings going forward than one of the countries would charge independently. So taxes stay about the same or less. The only risk is if people try to skirt the system b/c the US has control over whole financial system almost every country, so Canada can empty the foreign bank account. US gets a cut of Canada’s GSP for nato fees, etc. side note, everyone running around complaining about Canada and Trudeau don’t realize Canada is just a client state of US. They do what they’re told.

[@SolutionsWithin]

*GDP

[@user-ck1cq6mb4b]

You will have neither socio-sanitary services, nor culture-education, nor free service, nor quality of life. You really have to make big sacrifices for a lower life expectancy, etc. When we change, we will not change for the same things. We present things as if they were easy to do.

[@SolutionsWithin]

One bout of stomach virus from dirty water that washed their salad and they’ll come running back!! No pun intended. 😬🤣😂🤣

[@ricardosantos9960]

Canada's so great people don't want to retire here

[@savvyshopper1286]

I haven't worked in Canada for 17 years. I don't own anything so?

[@SolutionsWithin]

Youre still supposed to fill out your taxes every year while away and fill out the departure form before u leave, otherwise they will say your evading taxes and if u ever come back to Canada, don’t come back sick because you won’t get free healthcare for like 6 months or a year or something.

[@Iliinois18]

Thailand

[@deckmonkey1459]

@@__s_k__ They said if the new country recognizes the RRSP like the US does, you can keep it going tax free until you withdraw. I would guess that even if they only withheld 25% you would still have a huge tax bill in Canada. Normally when you withdraw, the holding tax is a base amount and when you file your income tax you would have to pay more if your tax rate for the year is higher or get a rebate if your tax rate is lower. I don't see them letting you get away without paying a tax rate for making $500k/year if you closed your account. Definitely a conversation to have with a tax expert, though.

[@LovepreetBrar-sx3iz]

Is it possible to retire at 30?🤔🤔

[@PAROAKE78]

lol

[@ricardozarruk4789]

We belong to the Goberment❤

[@kenbarthSimAV8tor]

I'll stick it out in Canada eh!

[@georgekazma2022]

Hold on a second there. When you're talking about income tax; are you talking under the assumption that the income is from a Canadian employer inside Canada paid to the non resident Canadian citizen who is living abroad? I hope you are not talking about a Canadian citizen who left Canada and is workimg in the country they are in!!!! Are you literally saying CRA still wants taxes from Canadians living outside Canada working outside Canada for Employers ALSO OUTSIDE CANADA??????!!!! SOMEONE COMFIRM THIS PLEASE! THIS WOULD BE INSANEEEEE

[@SolutionsWithin]

If u leave without filling out the form and informing them of severance from Canada and new residency somewhere else, then yes, if it’s a treaty nation they’ll go after the person to get the money, it’s tax evasion. If the person fills out the form properly and informs CRA of new residency and severance, then the two tax treaty nations will coordinate when necessary to make sure you usually never pay more tax combined than u would in the new country independently. I hope I make sense 😂 So it’s always better to follow all the rules and do things properly because we live in a global planet where the US regulates almost all the country’s banks and financial systems. Unless u more to Russia or China they can see everything almost! 🧐

[@Coffewithsteve]

Just put your money in bitcoin and leave

[@SolutionsWithin]

That might work under two circumstances: 1) if the person never returns, and 2) only if the person moves to a non-tax-treaty nation where the US isn’t regulating their banks. Otherwise it’s all connected and an open book

[@KLG777]

I want to be in Australia, our dollar is worth more.

[@jaideedave]

I've been there a couple times. The very high prices will swallow up any exchange benefits.

[@SolutionsWithin]

Australia is one of the hardest places in the world to get permission to live/residency/citizenship. They also don’t allow anyone with any health problems to move there.

[@be-i-ng]

Yeah Canada is at the point where we need to retire on a cheap cruise line and make it make sense!

[@SolutionsWithin]

Bon Voyage!!

[@be-i-ng]

@@SolutionsWithin srsly though, thank you for the always relevant, up to date info to plan and perhaps survive the system :)))

[@jasonhoffman9607]

most of us that don't want communism are looking to leave

[@dinnerwithfranklin2451]

I'd put more weight on your statement if I believed you understood the words you use.

[@SolutionsWithin]

You should give a deep dive into what communism actually is (pure communism) and then go study the distinct differences between communism, socialism, dictatorships, oligarchies, and authoritarian regimes. Make sure the info’s from empirical sources. Then you’ll know Canada would never ever become communist because that would be too good for the people. The govt’s are not the ones in charge my man, the corporations are; the American corporations are in charge across the globe. Govt answers to corporations only. Communism would be a dream. The closest thing Canada has to even mild socialism (aka minimum of what’s good for the people) is the NDP, and they have never ever won a federal election in the whole history of Canada, so communism is a pipe dream my friend. The citizens are too undereducated and hoodwinked by there corps and the cons to ever see the light. You can sleep soundly now. But if u take any knowledge from this message, thank me later and pass it on. Not that it will help. AI is coming to do the corporations’ bidding now.

[@dinnerwithfranklin2451]

@@SolutionsWithin Well said.