Don't Retire Abroad Until You Watch This (Canada's Exit Tax Trap)

📌 CORRECTION on Panama: We listed a 15% withholding rate in the country showdown, but Canada has no tax treaty with Panama. The correct default is 25% on your CPP and OAS. Big thanks to @fivesails and @mariadavis3797 who’s flagged this The NR5 lets CRA assess your actual Canadian tax liability instead of applying the flat rate, and it works for any non-treaty country. If you’re heading to Panama, Belize, Costa Rica, or anywhere without a treaty, the NR5 is the form to know. Our facts are straight everywhere else we just got this one wrong. ————————————————- Thinking about retiring abroad in 2026? Before you book that one-way ticket out of the cold, there's a 25% tax bill most people never see comingand that's just the beginning. If you are leaving Canada, your GIS vanishes, your OAS might follow, and the CRA hits you with a "departure tax" on investments you never even sold. (And if you're a US viewer, the IRS has a similarly brutal Expatriation/Exit Tax waiting for you!). In this video, you'll learn: • Which of your retirement benefits (CPP, OAS, GIS, or Social Security) actually follow you abroad and which ones disappear. • The "Departure Tax" trap: how the CRA and IRS tax your entire portfolio the day you leave. • The RRSP drawdown strategy that could save you thousands before you become a non-resident. • A country-by-country breakdown: withholding tax rates, cost of living, and healthcare for Portugal, Mexico, Costa Rica, Thailand, and Panama. • The Snowbird Strategy: how to keep ALL your benefits while spending winters abroad. • 5 common mistakes that trigger residency audits. • Province-by-province healthcare cut-off timelines. If you've ever wondered: "Can I still collect CPP or Social Security if I move to Portugal?" "What happens to my OAS if I leave Canada?" "Do I lose GIS if I become a snowbird?" "How much tax will the government take from my pension abroad?" "What exactly is the departure tax?" ⏳ Chapters: 0:00 — The Dream vs. The CRA & IRS Reality 1:09 — What You'll Learn + Disclaimer 2:08 — The Three Benefits: CPP, OAS & GIS Abroad 4:22 — The Departure Tax (and US Exit Tax) Surprise 6:17 — The RRSP Drawdown Strategy 8:30 — Country Showdown: Portugal vs. Mexico vs. Costa Rica vs. Thailand vs. Panama 11:18 — The Snowbird Loophole 13:31 — Common Mistakes & Residency Red Flags 15:26 — Jay's Decision Framework + What To Do Next 🛠️ Tools mentioned in this video: • Wealthsimple (TFSA/RRSP/FHSA): https://www.wealthsimple.com/invite/E... 👋 New here? The Maple Finance breaks down personal finance into simple, animated explainers no fluff, no jargon, just the stuff that actually saves you money. Hit subscribe and turn on notifications so you don't miss the next one. ⚠️ This is not financial advice always do your own research before making any investment or retirement decisions. #CanadianRetirement #RetiringAbroad #CPP #OAS #CRA #CanadianTax #TFSA #RRSP #PersonalFinanceCanada #RetireEarly #ExpatLife #DepartureTax