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    TinaMarie67's Avatar
    TinaMarie67 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 16, 2011, 08:58 PM
    What happens when you receive inheritance?
    My Uncle passed away last month and I was informed that I would be receiving an inheritance. I am a single mother, I work part time, I am on assistance (ontario works) and I live in geared to income housing. What is going to happen in my situation, once I receive this inheritance?
    1. When do I go off assistance? Do I inform them that I will be receiving an inheritance in a couple of months?
    2. Do I claim this inheritance at tax time?
    3. Is it tax free?
    4. Do I inform child tax credit? (baby bonus)?
    5. Do I have to move from windsor housing?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    May 17, 2011, 03:26 AM

    There is no inheritance tax in Canada, but you may have to still list the inheritance on your tax filing.

    Whether you have to go off public assistance or reimburse them will probably depend on the amount of the inheritance. I suggest you first find out how much it is, then ask a caseworker.
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