Canada Revenue Agency (CRA) Edition T1243 E (22) 2 pages

Form T1243 — Deemed Disposition of Property by an Emigrant of Canada

Lists the property you're treated as having sold at fair market value on the day you stopped being a resident of Canada.

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Form T1243 · Deemed Disposition of Property by an Emigrant of Canada
The official Canada Revenue Agency (CRA) form, edition T1243 E (22) — blank
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Form T1243 (2022) Deemed Disposition of Property by an Emigrant of Canada — page 1 of 2
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Form T1243 (2022) Deemed Disposition of Property by an Emigrant of Canada — page 2 of 2
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Fill this form online Blank PDF from Canada Revenue Agency (CRA)

What is Form T1243?

When you emigrate from Canada, you are generally treated as if you had sold most of your property at its fair market value the day you left, and you report any resulting gain on your return for that year. This is often called the departure tax. Form T1243, Deemed Disposition of Property by an Emigrant of Canada, is where you list that property and work out the gain or loss on each item.

Some property is excluded: Canadian real property, resource and timber property, Canadian business property used through a permanent establishment, pension plans, RRSPs, RRIFs, TFSAs, RESPs, RDSPs and the other rights and interests the form lists, plus property you brought with you if you lived in Canada 60 months or less in the last 10 years. For each item that is deemed disposed of, the form asks for the number of shares, a description, whether it's Canadian or foreign, the year you acquired it, its fair market value when you left and its adjusted cost base.

FileIt takes up to 10 properties, works out column 7 for each (value minus cost, with a minus sign for a loss) and prints everything on the CRA's own PDF (edition T1243 E (22)), which is still the edition the CRA links today. The finished form is saved in your vault folder; you attach it to your return yourself.

Who fills it
Individuals who stopped being residents of Canada during the year
Sent to
Attached to your return for the year you emigrated, with Schedule 3 if it applies
When
With that year's income tax and benefit return
Signatures
None on the form itself; it goes with your signed return
Edition
T1243 E (22)

Who needs to fill out Form T1243?

  • Anyone leaving Canada who owns shares, mutual funds, foreign real estate or other property that isn't excluded.
  • Emigrants who elected on Form T2061A to report a deemed disposition of Canadian real property or business property.
  • People who also need Form T1161 (list of properties) or want to defer the tax with Form T1244.

When to use Form T1243

  • On the return for the year you ceased to be a resident of Canada.
  • After you have the fair market value of each item on your departure date.
  • Alongside Schedule 3 and, where they apply, Forms T1161, T1244 and T2061A.

What you need before you start

  • Your SIN, your new mailing address and your date of emigration.
  • For each property: the number of shares (if any), a description such as the company name and share class or the property's address, and whether it's Canadian or foreign.
  • The year you acquired it, its fair market value on the day you left and its adjusted cost base.
  • A full breakdown of any investment portfolio.

What’s on Form T1243

The 2022 edition has 2 pages. FileIt asks for it in 3 parts:

  1. IdentificationEmployee
  2. Capital gains (or losses) on deemed disposition of propertyEmployee
  3. More properties (6 to 10)Employee

How to fill out Form T1243, step by step

1 Identification

Your name, SIN, mailing address and the date you emigrated from Canada.

2 Check what's excluded

Before listing anything, check page 1 of the form: Canadian real property, registered plans, pensions and the other excluded rights or interests stay off this list unless you elected on T2061A.

3 Capital gains (or losses) table

One row per property: shares, description, C for Canadian or F for foreign, year of acquisition, fair market value on departure and adjusted cost base. FileIt fills column 7 with the gain or loss.

4 Carry it to your return

Report the gains and losses on Schedule 3, including a portfolio breakdown, and attach the T1243.

Common mistakes to avoid

  • Listing excluded property such as RRSPs, TFSAs or Canadian real estate.
  • Using the purchase price instead of the fair market value on the departure date.
  • Forgetting foreign property: it's included and marked F.
  • Not attaching Schedule 3, or skipping T1161 when it's required.
  • Overlooking Form T1244 if you want to defer paying the tax.

After you fill it out

Print the PDF from your FileIt vault and attach it to your return for the year you emigrated, with Schedule 3. FileIt doesn't file it for you.

If you want to defer the tax on the deemed dispositions, look at Form T1244; if you own property worth more than the T1161 threshold, file Form T1161 too. Keep the valuations you used in the same vault folder.

Fill out Form T1243 online with FileIt

  1. Pick the person. Choose someone from People and FileIt fills in their name, date of birth, address and other details it already knows.
  2. Answer plain-language questions. One part of the form at a time, with the official help text beside each question — 75 fields in all. Your answers save as you go.
  3. Check the live preview. Watch your answers land on the real Canada Revenue Agency (CRA) form, and let FileIt do any worksheet arithmetic.
  4. Generate the official PDF. FileIt prints your answers into the agency’s own PDF and files it in that person’s folder in your vault.

FileIt fills the form — it never files or submits anything for you. Deliver the finished form to whoever asked for it, the way the form’s instructions say.

Start Form T1243 now — it’s free

Form T1243: frequently asked questions

What is a deemed disposition?

Being treated for tax purposes as if you sold property at its fair market value, even though you didn't sell it, here on the day you left Canada.

Do I include my RRSP or TFSA?

No. They're among the excluded rights or interests listed on page 1 of the form.

What do C and F mean in column 3?

C is a Canadian property and F is a foreign property (outside Canada).

What if I have more than 10 properties?

The form says to attach a separate sheet if you need more space.

Official sources

FileIt is not affiliated with or endorsed by Canada Revenue Agency (CRA) or any government. This page explains the form in general terms and is not legal, tax or immigration advice. Always read the official instructions, and check that you are using the edition the recipient accepts. Page last reviewed 2026-10-19.

Fill out Form T1243 online