I’ve been searching revenue Canada and Ontario’s web sites looking for information regarding this.
What sort of taxes or fees are imposed on us in Ontario Canada if we receive an inheritance of cash from a cousin who has died while living in Boston?
I can’t find anything about this, so I hope that one of y’all might have some personal experience in this… Or know what to do at least.
Sorry - no way do I even hint at giving legal advice on a real live tax problem over the internet. Neither my employer nor my insurer would be very happy with me. In fact, they would be :mad:
Call the Law Society of Upper Canada, and ask for a referral to a tax lawyer in the Ottawa area.
Ditto, sorry.
The LSUC number is 1-900-565-4577, and will result in a $6 charge to your phone number, so be sure to insist on a specialist in tax law. You’ll be referred to someone who will chat to you for a few minutes and possibly be able to help you.
Given the incomprehensibility of the Income Tax Act, I suppose it’s only a matter of time until some Court decrees that no lawyer can be held liable for giving bad advice concerning that Act.
No doubt following the precedent that a failure to understand the Rule against Perpetuities is not professional negligence! 