What is an exit tax? Gad Saad says he’s getting a bill to leave Canada
Rotfleisch: The exit tax is a bit of a misnomer. It’s payable when you become a non-resident of Canada, and it’s one of the deemed dispositions under the Income Tax Act. A deemed disposition means it’s a legal fiction. It’s not an actual disposition, but the Tax Act says you have disposed of something. The…