Becoming a Non Resident of Canada

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[@donttread5414]

1. How aggressive is the CRA with the FMV of property for deemed disposition on form T2061A?
2. Would a 1:1 basis to FMV raise audit flags?

[@jj-ry8xv]

Let's say I bought a stock at a price of $100 per share while I was not a resident of Canada. On the day I attained Canadian residency, the stock's price fell to $10 per share. Later, as a Canadian resident, I sold this stock at $100 per share. How would Canadian tax laws compute the capital gains tax for this transaction? Although I didn't make any profit from this investment-since I initially purchased the stock at the same price I sold it-it seems that I'd still have to pay $45 per share in capital gains tax. Does this scenario result in an overall financial loss due to taxation, even though there was no net gain from the investment?

[@blakeclark7962]

Good video, So....I sell everything here and my wife, child, and I all move overseas. Because I keep my bank account and investments in Canada do you believe I would really have an issue saying I am a non-resident? I clearly have jumped ship at that point I assume.
Thanks, Blake

[@Joe-jc5ol]

Hey man, what did you end up doing? Are you dodging the cra so far?