Not on inheriting it. The estate pays tax on the gain up to the date of death; you pay on any gain after you receive it.
The Canadian position
Your cost base is generally the fair market value at the date of death.
Selling soon after inheriting therefore usually produces little further gain.
The Islamic position
The estate's tax is a debt paid before the shares are calculated.
Your own later gain is your own affair, not the estate's.
The four Sunni schools are not recorded as differing materially on this point in the sources reviewed. Where your own case turns on it, put it to a scholar of your school.
General information, not legal or religious advice. Inheritance depends entirely on the exact family circumstances. Confirm the Canadian position with a lawyer in your province and any religious ruling with a qualified scholar.
Citations & sources
Every factual claim on this page traces to one of the references below. Legislation and dollar thresholds change — verify against the primary source before relying on any figure.
- Research Papers — Cambridge Muslim College
- Research — Cambridge Muslim College
- Academics — Islamic law and theology curriculum — Zaytuna College
- Encyclopaedia of Islam — Brill
- What to do when someone has died — Canada Revenue Agency
- Income Tax Act, RSC 1985, c 1 (5th Supp) — Justice Laws Canada
- Principal residence exemption — Canada Revenue Agency
- Non resident beneficiary clearance certificate delay ontario — Treadstone Law
- Deemed disposition private company shares death canada — Treadstone Law
- Does ontario have an estate tax — Treadstone Law
- Wsib clearance certificate business sale ontario — Treadstone Law
- What is clearance certificate cra — Treadstone Law
- Twenty one year deemed disposition trust canada ontario — Treadstone Law
- Wills & estates practice — Treadstone Law