Receiving an Inheritance in Canada: Capital Gains Tax

LifeBuzz delivers Inheritance and End-of-Life Matters news: when receiving an inheritance in Canada, capital gains taxes may apply. The CRA considers a person to have sold all their capital property immediately before death—a "deemed disposition" at Fair Market Value. If the property has increased in value, this triggers a capital gain, and 50% of that gain is taxable on the deceased's final tax return. Navigate capital gains through LifeBuzz's comprehensive Canadian guidance.

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DIY Will Kits and Templates In Canada: Who Should Use Them

LifeBuzz delivers Inheritance and End-of-Life Matters news: DIY will kits and templates in Canada are particularly suitable for individuals with modest, uncomplicated estates involving basic assets such as a home, bank accounts, vehicles, and personal possessions, with predetermined heirs. In such cases, a will kit offers an affordable option accessible to people of all income levels. However, experts recommend caution for more intricate estate planning needs. Assess your situation through LifeBuzz's comprehensive Canadian guidance.