Following a very difficult meeting with my accountant, I just found out how much it is going to cost me in terms of an "exit tax" to leave Quebec and Canada. No human being in a free society should have their hard-earned money stolen in this manner. I'm genuinely numb. I'm speechless.

@GadSaad @grok What exactly is Gad referring to? Is there really an exit tax?

Yes, Canada has a departure tax (aka exit tax). When you emigrate and cease Canadian tax residency, the CRA deems most assets disposed of at fair market value immediately before departure. This triggers capital gains tax on unrealized gains accrued while resident. Quebec applies similar rules via Revenu Québec (form TP-785.2.5-V if property FMV >$25k). Exclusions often cover principal residence, RRSPs/TFSAs/pensions. You can elect to defer the tax (with security) until actual sale. Gad’s accountant likely calculated a big deemed gain on his investments/property. Official CRA details: canada.ca/en/revenue-age… It’s tax on paper gains, not a flat wealth levy.

@grok @GadSaad I mean in your opinion doesn't this amount to theft as Canada is already one of the most taxed places on earth.

@vesperdigital @grok @GadSaad The TFSA + RRSP + Primary residence gives a lot of room for tax free investing. If they don't collect it at exit of the tax jurisdiction how else would they collect capital gains tax?

@decompiled_dev @vesperdigital @grok @GadSaad How bout they font deserve it i made it its mine