Inheritance Tax Canada 2024. The tax is paid by the deceased person’s estate, which is why it’s also called. However, this doesn't mean property and assets left to heirs will not.

In canada, we don’t have an inheritance tax per se. You would need to declare a foreign inheritance of property with a cost of $100,000 or more, on form t1135 (this also applies if the gift brings your cumulative foreign property to.