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Estate Tax Help
Estate Tax Obligations in Ontario
Final Tax Return
File the deceased's final personal income tax return for income earned from January 1st to the date of death.
Rights or Things Return
Optional separate return for certain types of income like unpaid salary, vacation pay, or investment income.
Trust Returns
File T3 trust returns for the estate if it earns income after death or if the estate continues for more than one year.
Clearance Certificate
Obtain clearance certificates from CRA confirming all taxes have been paid before distributing estate assets.
Important Tax Deadlines
Final Tax Return
Due by April 30th of the year following death, or 6 months after death (whichever is later). Late filing penalties apply.
Rights or Things Return
Due by the later of: 1 year after death, or 90 days after CRA sends a notice of assessment for the final return.
Trust Returns
Generally due 90 days after the estate's year-end. Ongoing obligation until estate is fully distributed.
Common Estate Tax Issues
Deemed Disposition
The deceased is considered to have sold all assets at fair market value immediately before death, potentially triggering capital gains.
Principal Residence
Determining which property qualifies as the principal residence and calculating any capital gains exemption.
RRSP/RRIF Rollover
Understanding rollover options for registered accounts to surviving spouses or financially dependent children.
Tax-Free Savings Account
Handling TFSA transfers and understanding the tax implications for beneficiaries and survivors.
Why Get Professional Tax Help?
- ✓ Avoid costly mistakes and penalties
- ✓ Maximize available tax deductions
- ✓ Ensure compliance with all requirements
- ✓ Get clearance certificates quickly
- ✓ Handle complex asset valuations
- ✓ Navigate rollover opportunities
- ✓ Reduce executor personal liability
- ✓ Save time and reduce stress
Need Estate Tax Help?
Don't risk penalties or missed opportunities. We can connect you with our trusted network of tax professionals who specialize in estate tax matters and can guide you through every step of the process.
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