Deemed Disposition

Generally, anything considered to have been sold without supporting evidence. Specifically in estate matters, the term describes the condition for tax calculation purposes used by the Canada Revenue Agency (CRA) . It considers a person to have sold all of their assets the day prior to death at fair market value and calculates taxes owing on that basis. This can affect all property other than principal residence and investments for capital gains tax and all registered assets for income tax.

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May 20th, 2024