[CorsiHockeyLeague]

Originally Posted by Locke

Oh. And if this is your understanding, it is entirely possible your Accountant doesnt know jack about Estate Taxes. You might want to look into that.

Erm, I'm pretty sure there's a spousal rollover available isn't there?

EDIT: Damn Slava beat me to it. But hey, for completeness' sake:

Spoiler!

Originally Posted by Income Tax Act s. 70

Where transfer or distribution to spouse or spouse trust

(6) Where any property of a taxpayer who was resident in Canada immediately before the taxpayer’s death that is a property to which subsection 70(5) would otherwise apply is, as a consequence of the death, transferred or distributed to

(a) the taxpayer’s spouse or common-law partner who was resident in Canada immediately before the taxpayer’s death [...]

if it can be shown, within the period ending 36 months after the death of the taxpayer or, where written application therefor has been made to the Minister by the taxpayer’s legal representative within that period, within such longer period as the Minister considers reasonable in the circumstances, that the property has become vested indefeasibly in the spouse or common-law partner or trust, as the case may be, the following rules apply:

(c) paragraphs 70(5)(a) and 70(5)(b) do not apply in respect of the property,

(d) subject to paragraph 70(6)(d.1), the taxpayer shall be deemed to have, immediately before the taxpayer’s death, disposed of the property and received proceeds of disposition therefor equal to [...]

(ii) in any other case, its adjusted cost base to the taxpayer immediately before the death,

and the spouse or common-law partner or trust, as the case may be, shall be deemed to have acquired the property at the time of the death at a cost equal to those proceeds,