Practical, real-world information about wills, estate planning, business succession planning and elder law in Canada
I can't seem to find a proper heading for my question? i.e. if I inherit $50,000 from the deceased's bank account, would I have to pay an inheritance tax on this?
If I inherit i.e. $50,000 from the deceased's bank account, do I pay a tax on it?
No. Inherited funds are not taxable in Canada.Lynne