Canada Wealth & Property Tax
Detailed wealth & property tax rates and rules for Canada in 2026.
Wealth Tax
Canada does not impose a wealth tax. There is no annual tax on net worth or total assets. Various proposals for a wealth tax have been debated politically, but none have been enacted into law as of 2024.
Wealth Tax Rate
0%
Inheritance / Estate Tax
Canada does not have an estate tax or inheritance tax. However, a deemed disposition rule applies at death, meaning the deceased is treated as having sold all capital property at fair market value immediately before death. This triggers capital gains tax on any unrealized appreciation. The resulting tax liability is paid from the estate before assets are distributed to beneficiaries. Certain rollovers are available for transfers to a surviving spouse or common-law partner, qualifying farm or fishing property, and small business corporation shares, which defer the deemed disposition until the recipient eventually disposes of the property.
Top Rate
0%
Property Tax
Property taxes in Canada are levied by municipal governments and are a primary source of local revenue. Rates vary significantly by municipality and province. Properties are assessed at market value by provincial assessment authorities, and municipal tax rates (mill rates) are applied to the assessed value. Effective property tax rates in Canada typically range from 0.5% to over 2.5% of assessed value. Some provinces offer property tax credits, rebates, or deferrals for seniors, low-income homeowners, and persons with disabilities. The provinces of British Columbia, Ontario, and Nova Scotia also impose land transfer taxes on real estate purchases.
How Canada Wealth Tax compares
Canada does not tax net wealth. 191 of 203 countries TaxAtlas tracks take the same approach, which is useful context when weighing where to live, invest, or incorporate.
