Quote:
Originally Posted by chedder
This is 100% not true. Most things like second homes and land will be taxed at capital gains rates on their appreciation, or half that 48%. Only registered accounts like rrifs would be taxed at that level if big enough.
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I just knew somebody would chime in about the cap gains rate. I'm sorry for not explicitly stating it. Because holy crap I guess I should put in every ####ing qualifier when it comes to tax rates.
The point being, there is no special treatment to the assets because someone died. It's a deemed disposition.