leaving Canada consultation

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coomarNew Member
Topic author
Posts: 1
Joined: 6 Dec 2007
Location: Ottawa

leaving Canada consultation

Post Thu Dec 06, 2007 7:57 am

Folks

I would like to solicit suggestions on my situation.

Inspite of all my love Regretfully i have chosen to leave Canada.
Reasons
1) Having lost my appreciation for the cold blistery winds and i have been sick persistantly.
2) work Opportunities for a Hitech person with 7 years work experience and a recent MBA from a top B School
3) being close to family.

I have accumlated sizeable RRSP and i want to know what to do with it. Most likely i will end up in London, England or Melbourne, Australia.

1) I could leave the RRSP but 35+ years is a long time for it to become mature.
2) If i close the account then i have to pay taxes here at 30%. If i move the money to UK or Australia will I have to pay taxes over there?

Couple of more things. I have to pay off my student loan with one of the banks here and i also have some money in locked in RRSP account.

Thanks in advance.
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cherieboberry1CanuckAbroad Regular
Posts: 51
Joined: 8 Oct 2007
Location: Melbourne AUS

Post Thu Dec 06, 2007 5:28 pm

I would talk to someone at an HSBC bank branch. They have branches all over the world and were very helpful with suggestions when I moved from Canada to Australia. Good luck :)
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