Assignment:
At the end of the current year, Simon Farr departed from Canada in order to take a permanent position in Ireland. He was accompanied by his wife and children,as well as all his property. Due to depressed real estate prices in his region, he was unable to sell his residence at a satisfactory price. However, he was able to rent it for a period of two years. He also retained his membership in the Ontario Institute Of Chartered Accountants. After his departure, would he still be considered a Canadian resident for tax purposes? Explain your conclusion.
Provide complete and step by step solution for the question and show calculations and use formulas.