Individuals or corporations leaving Canada are subject to what is usually referred to as a departure tax. For individuals emigrating from Canada there is a deemed disposition of most assets, resulting in tax on the capital gain realized as a result of the deemed disposition. The provisions for corporations are complex but they attempt to mimic capital gains that would occur if the corporation were sold, taking into account accumulated PUC (paid up capital), debts/obligations and any prior emigration or branch tax paid by the corporation on a previous emigration that occurred prior to 1996.