Estate Tax Update

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U.S. estate tax exposure for Canadians (Revised edition, February 5, 2013)

Canadian residents (who are not U.S. citizens) may be subject to U.S. estate tax if they die owning certain U.S assets, such 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 now have a U.S. estate tax liability only if their worldwide assets are valued at more than $5.25 million.

This Estate tax update sets out the potential exposure to Canadians.