Ron Choudhury comments on tax considerations for retirement destinations

Sunny climes have long beckoned retirees who are fed up with freezing Canadian winters. Along with warm temperatures, lower taxes – or no taxes whatsoever – particularly appeal to the wealthy. The controversy over the release of the so-called Panama Papers, as well as the federal government’s new push to raise taxes for high-income earners and to maximize revenue collection, are focusing attention on foreign tax havens. High-net-worth individuals looking to limit their tax exposure by relocating in retirement need to follow residency, tax and other rules.