When the beneficiary sells the investment account assets (for a house deposit, for example), will they pay tax on the sale proceeds?

When the beneficiary becomes the owner of the assets, he/she would become responsible for reporting the income and paying the tax on earnings for each financial year.

When the beneficiary sells down some/all of the account (for house deposit), then the beneficiary may be responsible for any capital gains tax that might be a result of selling the assets.

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