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A source familiar with the situation who asked not to be identified said Edwards is switching his residency to the U.K. for income tax reasons. Taxes forhigh-income earners inAlbertaincreased dramatically over the pastyearwith thetop federal/provincial combined marginal rate risingfrom 40.25 per cent in 2015 to 48 Veterans Memorial Museum – Fresno, California – Ramblin’ Man: Full-time RV Life per cent in 2016. In order to be considered a non-resident by Canada for tax purposes, a person must routinely live in another country or show they dont have significant residential ties to Canada by staying in the country for fewer than 183 days a year. The finance andoil and gas magnate, who is also a part owner of the Calgary Flames and ownsski resorts through Resorts of the Canadian Rockies, didnt immediately return a phone calloremailasking for comment on Thursday. The Magellan information contradictstheannual information form filed by Calgary-based Ensign Energy Services Inc. last week, in which Edwards residence is described as Calgary/Banff, as it has been for several years. He is also chairman of Ensign and holds about 16 per cent of the shares. Edwards is the executive chairman of Calgary-based Canadian Natural Resources Ltd., Canadas largest producer of heavy oil. That company hasnt filed its regulatory forms yet but the ones filed inMarch 2015 show his address as Calgary/Banff. Edwardswas listed asthe second-richest Calgarian on the Forbes list of billionaires released this monthwith afortune peggedat $1.33 billion, a fall from last years valuation of $1.8 billion due mostly to the decline in the price of oil and the value of the shares he owns.

For the original version including any supplementary images or video, visit http://calgaryherald.com/storyline/murray-edwards-the-billionaire-oilpatch-icon-has-left-his-calgary-home-and-relocated-to-london

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