Political and tax uncertainty has created an environment of discontent within the one percenters in Canada, fuelled by politicians, media and global pressures to fund the increasing self-interest of the government. Investing in people and businesses, taking risks to become successful and accumulating wealth, the reward for the risks, is being portrayed as a negative in the eye of the general public.
Discussions around the implementation of wealth and inheritance taxes has moved from backrooms to the front page with focus on shaming the wealthy. Canada is the only G7 country without some form of supertax. For many families, now is the time to seriously contemplate becoming Global Residents.
Many families we work with have stated that their desire to depart Canadian taxation is impacted by the amount they can retain on departure . We can usually achieve a solution that leaves 90% or more in their hands personally.