Form T1161 is the list of properties you file if you stopped being a resident of Canada in the year and everything you owned when you left was worth more than $25,000 in total, after leaving out certain excluded property. You attach it to your return for the year you emigrated, and you must send it by your filing due date even if you don't have to file a return.
Figures here come from the CRA's Form T1161 (T1161 E (22)) and its pages for emigrants, as of October 2026. All amounts are in Canadian dollars.
What you leave out of the $25,000 test
- Cash, including bank deposits.
- Pension plans, annuities, RRSPs, PRPPs, RRIFs, RESPs, RDSPs, TFSAs, deferred profit-sharing plans and similar plans and trust interests.
- Property you owned when you last became a resident, or inherited afterward, if you were resident for 60 months or less in the 10 years before you left, and it isn't taxable Canadian property.
- Any item of personal-use property, such as household effects, clothing, cars or collectibles, worth less than $10,000.
Everything else counts, inside and outside Canada: your principal residence, public and private shares, bonds, debentures, promissory notes, treasury bills, trust and partnership interests, business property including inventory, real property and security options.
The insight: T1161 lists more than departure tax covers
People often assume T1161 only lists what they're taxed on. It doesn't. When you emigrate you're deemed to have sold most property at fair market value, but some property is exempt from that deemed disposition, including Canadian real property and Canadian business property used through a permanent establishment in Canada. Your Canadian home, for example, isn't deemed sold, yet the form tells you to list your principal residence. T1161 is a reporting list of what you owned; the tax calculation happens separately on Form T1243.
How T1161 fits with T1243 and T1244
| Form | What it does |
|---|---|
| T1161 | Lists the properties you owned immediately after you stopped being resident, marked C (Canadian) or F (foreign), with fair market value |
| T1243 | Calculates the capital gains or losses on the deemed disposition, carried to Schedule 3 |
| T1244 | Elects to defer paying the departure tax until you sell the property, without interest |
The deferral election under T1244 must be made by April 30 of the year after you emigrate. If federal tax owing on the deemed disposition is more than $16,500 ($13,777.50 for former residents of Quebec), you must give the CRA adequate security, so contact them before April 30.
The penalty for filing late
The penalty for not filing T1161 on time is $25 for each day it's late, with a minimum of $100 and a maximum of $2,500. That penalty runs from your filing due date, and it applies to the list itself, even where you owe no tax.
Are you an emigrant at all?
The CRA says you usually become a non-resident on the latest of the date you leave Canada, the date your spouse or common-law partner and dependants leave, and the date you become resident in your new country. If you keep residential ties in Canada, you're usually a factual resident, not an emigrant. But if a tax treaty makes you resident of the other country, you may be a deemed non-resident, and deemed non-residents follow the same rules as emigrants, T1161 included.
Filling it in
- Enter your name, SIN, mailing address and date of emigration.
- List each property you owned immediately after you ceased to be resident, leaving out the four excluded categories.
- Give the number of shares where relevant and a description, such as the corporation name and class or the address of land.
- Mark each as C or F and enter its fair market value on the date you emigrated.
- Attach it to your T1 return for the year, or send it on its own by the due date if you don't file a return.
The CRA asks you to download the fillable PDF and open it in Acrobat Reader 10 or later rather than in your browser.
Related forms worth checking
If you held specified foreign property while resident, you may also have filed Form T1135 in earlier years, and the foreign holdings you reported there are likely to appear on T1161 too. If you're coming back to Canada later, the CRA lets returning residents elect to unwind a previous deemed disposition on property they still own, which can reduce departure tax already reported.
Selling the property after you've left
If you later sell property that was deemed disposed of when you emigrated, and you'd deferred the departure tax, the sale may mean some or all of the deferred amount is now due. The CRA asks you to send Non-Resident T1 Adjustments at the Winnipeg Tax Centre the description of the property as listed on your original T1243, the number of shares if any, and the date of the sale. Payment of any amount owing is due by April 30 of the year after the sale.
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The verdict
If you're leaving Canada with investments, shares or property worth more than $25,000 outside the excluded categories, put T1161 on your departure checklist alongside T1243. Value everything as of the day you left, list your Canadian home even though it isn't deemed sold, and file by the due date. The daily penalty starts whether or not any tax is owed.
Frequently asked questions
Who has to file Form T1161?
An individual who ceased to be a resident of Canada in the year and owned properties with a total fair market value of more than $25,000 when they left, not counting excluded property.
What property is excluded from T1161?
Cash and bank deposits, pension and registered plans such as RRSPs and TFSAs, certain property of short-term residents, and personal-use items worth less than $10,000 each.
What is the penalty for filing T1161 late?
$25 for each day it's late, with a minimum penalty of $100 and a maximum of $2,500.
Do I need to send T1161 if I don't file a return?
Yes. Even if you don't have to file a return, you must send Form T1161 on or before your filing due date.
What is the difference between T1161 and T1243?
T1161 lists the properties you owned when you left Canada. T1243 calculates the capital gains or losses on the deemed disposition of property.
Does my home in Canada go on T1161?
Yes. Property on the list includes your principal residence, even though Canadian real property is an exception to the deemed disposition rules.
