Estate Administration Tax

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Estate Administration Tax

Estate administration tax is charged on the total value of the deceased’s estate. The total value of the estate is the value of all assets owned by the deceased at the time of death, including:

  •  Real estate in Ontario (less encumbrances)
  •  Bank accounts
  •  Investments (e.g., stocks, bonds, trust units, options)
  •  Vehicles and vessels (e.g., cars, trucks, boats, ATVs, motorcycles)
  •  All property of the deceased which was held in another person’s name
  •  All other property, wherever situated, including:

o goods
o intangible property
o business interests, and insurance, if proceeds pass through the estate, e.g., no named beneficiary other than ‘Estate’.

If the court issued a Certificate of Appointment of Estate Trustee with a Will Limited to the Assets Referred to in the Will, only those assets included in such will, are to be included.

If the court issued:

  • a Confirmation by Resealing of Appointment of Estate Trustee
  • a Certificate of Ancillary Appointment of an Estate Trustee with a will, or
  • a Certificate of Appointment of Foreign Estate Trustee’s Nominee as Estate Trustee without a Will, only those assets located in Ontario are to be included. Encumbrances against any assets other than real estate cannot be deducted from the value of the assets.

Assets that the deceased had before death but not at the time of death, such as insurance payable to a named beneficiary, assets where there is joint ownership with right of survivorship and real estate outside of Ontario are not included in the value of the estate.

The tax is imposed on the estate of the deceased person.

The tax is paid as a deposit when the estate representative applies for a Certificate of Appointment of Estate Trustee with the Superior Court of Justice