CRA Takes 80% When You Die
How dying with an incorporated business can trigger layers of tax that devastates family wealth – and why post-mortem planning is critical before it's too late.
Show Notes
When you die owning a corporation in Canada, the CRA can take up to "80 of its value" through layers of taxation – leaving your family with almost nothing.
Through An Example, You'll Learn:
• How CRA applies a deemed disposition when you die
• How a $1M corporation can trigger over $800K in total taxes
• How capital gains tax, dividend tax, and corporate tax stack together
• What "double" and "triple" taxation really mean in practice
• What post-mortem tax planning is
• What strategies can reduce the tax outcome from 80% down to 27%
• Why this issue affects employees, jobs, and entire communities – not just owners
• The three questions every incorporated business owner must ask their tax advisor
If you own a corporation, this is something you cannot afford to ignore. Without planning, years of work can disappear to taxes in a single event.
Need more than a podcast? Cedar Group handles tax planning, restructuring, and sale-readiness advisory for founders.
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