@canadianexpats: Wondering how the Canada Revenue Agency (CRA) knows if you left the country? 🌍 Many Canadian expats think they can fly under the radar by simply keeping a Canadian address, but the CRA has massive data-sharing networks to track your residency! First, they have full access to CBSA entry and exit records, meaning they know exactly when you cross the border and how many days you spend in Canada. Second, through the Common Reporting Standard (CRS), over 100 countries automatically report your foreign bank account details back to the CRA. Finally, any cross-border money transfer of $10,000 or more is automatically logged and flagged. Trying to hide your departure can lead to massive retroactive taxes and penalties. Always plan your exit properly and sever your residential ties the right way! Let me know in the comments where you are moving to! 👇 This content is intended as general information only and is not to be relied upon as constituting legal, financial, or other professional advice. Every case is different, and your specific situation must be evaluated and handled on its own merits. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date, but its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. #CanadianExpats #MovingOutOfCanada #CanadianTaxes

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Thursday 28 May 2026 06:58:45 GMT