Question about RRSP liquidation after giving up residency:
If I had been in the plan say 5 years, and now moves to another country. I want to liquidate my Canadian RRSP. How am I going to be taxed in Canada? Theoretically since I have given up my residency, I can be only taxed on my Canadian source Income, so my tax bracket will be lower than when I contribute into the plan... Is there any other penalties?