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Thursday, September 15, 2011

Income tax on inheritance

Are you wondering about a potential tax hit if you inherit money or property? If so, you're not alone. This remains one of the consistently asked questions here on this blog. Today I'm linking you to a blog post by Mark Goodfield, a Toronto accountant also known as The Blunt Bean Counter. To read his post about income tax on inheritances in Canada, click here.

2 comments:

  1. Lynne,thx for link. Great blog, we seem to have many of the same experiences.

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  2. I have been named in a will that did not apply until an handicapped son passed away. The son has now passed away and the able bodied guardian brother whom is the executor claims there is no equity or monies left as it was used to care for the dependent son over the 9 yrs.I have insider info that the house that was left was borrowed against to purchase a business and other non essentials. The inheritance is not much but it is the principle of the whole thing that bothers me. How do i force the issue without spending a ton of money?

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