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Changes Ahead for the Estate Administration Tax Act

July-11-2011

Area Personal Tax & Estates

Summary

On May 12, 2011, Ontario Bill 173, Better Tomorrow for Ontario Act (Budget Measures), 2011  received Royal Assent, making a number of notable changes to the 1998 Estate Administration Tax Act.

Estate administration tax (often referred to as probate fees) is determined simply as a percentage of an estate’s value. It must be paid when a personal representative (i.e. an executor) files an application with the Court for a certificate of appointment of estate trustee and whether or not there is a will.  Under the EATA, the amount of tax payable upon the issuance of an estate certificate for which an application is made is $5 for each $1,000 of the first $50,000 of the value of the estate and $15 for each $1,000 of the value of the estate that exceeds $50,000.

 

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