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yashar157
New Member

I became a non-resident of Canada as of July 27, 2021.How do I file T1243 deemed disposition of property by an emigrant of Canada? Can I do it on Turbotax ? Thank you.

 
2 Replies

I became a non-resident of Canada as of July 27, 2021.How do I file T1243 deemed disposition of property by an emigrant of Canada? Can I do it on Turbotax ? Thank you.

TurboTax does not provide form T1243. You will need to fill it out and mail it to the CRA.

Note: Since CRA considers you to have sold certain types of property at their FMV (known as deemed disposition), you will need to claim it as a capital gain (known as departure tax). 

To download a copy of the T1243 Form, as per Canada Revenue Agency (CRA):

T1243 Deemed Disposition of Property by an Emigrant of Canada - Canada.ca

 

Information on Leaving Canada, as per Canada Revenue Agency (CRA):
Leaving Canada (emigrants) - Canada.ca

 

Thank you for choosing TurboTax.

yashar157
New Member

I became a non-resident of Canada as of July 27, 2021.How do I file T1243 deemed disposition of property by an emigrant of Canada? Can I do it on Turbotax ? Thank you.

Thank you for the info. So I should include departure tax under capital gain in my 2021 filing ? Thanks.