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I am the executor of an estate and I was going to file just a final return The CPP death benefit was received and was going to be reported by the beneficiaries. The only thing owned at date of death was TFSA ( already disbursed to beneficiaries) and GICs. The GICs have not been disbursed yet, as the bank required probate. Doing some reading, and now I'm wondering if a T3 will need to be filed for the death benefit and the interest that will be earned on the GICs. Or can the beneficiaries report both the death benefit and the interest?
I recommend that you review this link from CRA https://www.canada.ca/en/revenue-agency/services/tax/individuals/life-events/doing-taxes-someone-die...
Yes - I've read that - but I would appreciate it someone could provide more clarification.
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