Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

Do I owe estate tax when I inherit a home in Saskatoon?

No. Canada has no estate tax and no inheritance tax, unlike some other countries; what applies is a deemed disposition under the Income Tax Act, where the deceased is treated as having sold the home at fair market value just before death, and any resulting gain is reported and paid by the estate, not by you.

The Canada Revenue Agency's deemed disposition rule usually produces little or no tax if the Saskatoon home was the deceased's principal residence, since that gain is generally sheltered by the principal residence exemption, the same rule that protects a homeowner selling their own house.

What you do pay, through the estate, are Saskatchewan probate fees charged per $1,000 of estate value at the Court of King's Bench, plus legal fees, typically $800 to $1,500, for the lawyer who transmits title at Information Services Corporation.

Confirming the home's fair market value at the date of death is the number that protects the estate, since an unpermitted renovation can push the real figure well above an online estimate. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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