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Before making a major financial decision you
should consult a qualified professional.
A U.S. federal estate tax return must be filed if a deceased
Canadian resident who is not an American citizen owned U.S.-situated assets (this
includes stocks in US corporations, even if held in a Canadian brokerage) exceeding $60,000 fair market
value in US$ at death, and they may be subject to US estate tax.
Whether or not US estate tax is payable will depend on the person's total
worldwide estate.
This calculator is for a Canadian who is not a US citizen. There may be deductions to arrive at the estate
amount, some of which may be prorated, and other
tax credits in the calculation, but we are presenting a simplified version in
our calculator.
Our calculator is a very simple one - input the net amount of
your US-situated assets, and the amount of your worldwide estate, all in
US$. The
results will show the gross taxes, unified credit, and net taxes that would be payable on this estate in
certain tax years.
Of course the actual completion of a US estate tax return
would be more complicated than this, but our calculator will give you a
rough idea of how much US estate tax, if any, you may be required to pay.
For more information on how this works, and what
is included in US assets and your worldwide estate, see our article
on US Estate Tax.
Tax Tip: As
with many tax-related issues, this is complicated - plan ahead and get
professional advice if you have over $60,000 US in US assets!
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