Quote:
Originally Posted by GGG
I believe but not 100% sure that in places like France there is a gross up at death. So while in Canada the estate pays Capital gains on assets from the purchase price to the value at inheritance.
In many other jurisdictions no capital gains taxes are paid by the dead and just the inheritance taxes are paid.
Depends on country by country.
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The US has inheritance taxes but also a gross up of adjusted cost basis at death. Our system is likely fairer and also more difficult to game, as the deemed disposition at death is hard to avoid.
If you wanted to raise money from a wealthy type tax you should drop the capital gains exemption on a primary residence (or maybe limit it to $1MM in lifetime gains or something like that)