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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 100403
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: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year 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 1 year ago.
But does being and American Citizen and living in the US change anything when I want to transfer it here?
Expert:  Debra replied 1 year ago.
It doesn't cause you to be taxed in Canada.I don't know the law in the US.

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