___________________________________________________________________________________________________________
In Canada, the Canada Revenue Agency (CRA) does not impose a specific estate tax like some other countries (e.g., the U.S.). Instead, Canada treats death as a deemed disposition of assets, which may trigger capital gains taxes. Any capital property (e.g., real estate, investments) is considered sold at fair market value immediately before death, possibly triggering capital gains taxes.
We can help you through the process of filing:
- Final (Terminal) Tax Return – reports assets at the date of death and sets up the Estate
- Return for Rights / Things, if applicable – reports certain income the deceased was entitled to but didn’t receive before death
- Estate Return (T3) – report income earned while the estate is being administered.
- Clearance Certificate – CRA to confirm all taxes are paid and release you from liability.
MHS Tax Services 