With respect to the death of a taxpayer, which of the following is false?
A)The representative of the deceased is referred to as the executor.
B)Income from all sources is accrued up until the date of death.
C)A surviving spouse or common-law partner who is the named beneficiary of an unmatured RRSP may avoid tax by transferring the unmatured RRSP to their own RRSP.
D)A surviving spouse or common-law partner who is the named beneficiary of a TFSA must transfer the income to their own TFSA.

Question

Quizplus · Accepted Answer

A surviving spouse or common-law partner who is the named beneficiary of a TFSA can receive the assets of the TFSA without tax consequences or the need to transfer it to their own TFSA. The income earned on the TFSA after the date of death will be taxable to the beneficiary.

With Respect to the Death of a Taxpayer, Which of the Following