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3 RRSP Meltdown Strategies to Save MASSIVE TaxesSince the basis of taxation of estates is different in Canada and the United States, no foreign tax credit is permitted. However, Canadian capital gains taxes. The amount payable depends on the size of the estate. It applies on estates worth $50, or more � $15 for every $1, (or part thereof) of the estate value. Is there a death tax in Canada? There are no taxes that apply directly to inheritances in Canada. However, this doesn't mean property and assets.