Weekly Tax Tips
U.S. Estate Tax Issues for Canadians
Date: 23 Sep 2011
If you own property in the U.S., such as a vacation home or U.S. securities, you may be subject to U.S. estate tax even if you're a Canadian resident. U.S. estate tax arises on the death of an individual and is applied at graduated rates to the value of the individual's taxable estate. The same rates apply whether the individual is a U.S. citizen, U.S. resident, or a non-resident ― the difference is that for non-residents, only the value of property with a U.S. location or connection is included in calculating the estate that is subject to the tax.
There are U.S. estate tax issues that Canadian residents should take into consideration when they own, or are considering buying, U.S. property. Read our updated tax bulletin titled U.S. Estate Tax Issues for Canadians for an overview of how the U.S. estate tax applies and issues to consider.
This tax tip is a publication of BDO Canada LLP on developments in the area of taxation. This material is general in nature and should not be relied upon to replace the requirement for specific professional advice. The information in this tax tip is current as of 23 Sep 2011.
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