Estate Tax Update

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U.S. Estate Tax Exposure for Canadians (Revised Edition, February 2, 2011)

Canadian residents (who are not U.S. citizens) may be subject to U.S. estate tax if they die owning U.S. situs assets. U.S. situs assets include such things as shares of U.S. corporations, U.S. real estate and U.S. business assets.

Under the Canada-U.S. Tax Treaty, Canadian residents will have a U.S. estate tax liability only if their worldwide assets are valued at more than US$5 million.

This Estate Tax Update sets out the potential exposure to Canadians.

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