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Legal Ease
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Category: Canada Law
Satisfied Customers: 97375
Experience:  Lawyer
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My mother is a Canadian citizen and so am I, but I am also

Customer Question

My mother is a Canadian citizen and so am I, but I am also a US citizen and live in the states. What are my Canadian tax implications on her estate when she dies?
Submitted: 9 months ago.
Category: Canada Law
Expert:  Legal Ease replied 9 months ago.
In Canada inheritances are not taxed. So you don't have to pay any tax personally when your mother dies.Her estate has to pay taxes and these are essentially what she owed at death plus potentially capital gains tax on any assets that have gained in value (aside from her principal residence) she acquired them.Does that answer your question?
Customer: replied 9 months ago.
But does being and American Citizen and living in the US change anything when I want to transfer it here?
Expert:  Legal Ease replied 9 months ago.
It doesn't cause you to be taxed in Canada.I don't know the law in the US.

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