Thinking of leaving Canada? More than personal tax rates to consider

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Canadian personal tax rates may be too high, don’t compare favourably with those in the United States and are driving many of our successful people out of the country, but to be fair, there are many considerations other than high taxes that go into a decision to leave and become a non-resident for income-tax purposes.

As I often tell many of my clients and colleagues: “Don’t let the tax tail wag the dog.” In other words, tax is not usually the sole driver behind important decisions such as leaving Canada. There are many other factors including: Canada’s cold climate; where family and friends are located; the quality and cost of medical services in the new location; the cost of living — including housing; the language spoken and overall culture appeal; political stability/climate; the ability to legally reside in the new location; and the overall quality of life as compared to Canada.