Is an inheritance taxable in Canada - what if the

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My question is: Canadian-specific
QUESTION: I am a Jurock subscriber. Can you tell me if inheritance is taxable? 
a) real estate  - eg a house
b) money
What if these assets are in another country but I am a Canadian, resident in Canada?
What if I am a Canadian but not resident in Canada? Do i get taxed on returning to live in Canada?
What is the better tax situation for me- to inherit part of a house with other siblings or to inherit money?
Thanks
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david ingram replies:
In Canada the recipient of an inheritance does not have a tax problem unless it is a spouse or a minor or disabled child who receives an RRSP or RRIF or capital property rollover tax free at the time and then has to pay tax when sold or redeemed or withdrawn.
In all other cases, the estate pays the tax BEFORE the beneficiary receives the money.  
And, we tax the deceased on taxable amounts or the "deemed" sale at the moment of death.  
So, if the whole estate was $1,000,000 in cash and a $3,000,000 house which the deceased lived in, there would be no estate or cap[ital gains tax.
If you added a $1,000,100 piece of waterfront property that the deceased had paid $100.00 for in 1972, there would be a deemed capital gain and  the estate would pay a capital gains tax of about $237,000 in BC and the rate would be different in other provinces and territories..
If the waterfront property was in the United States, there would be an estate tax to pay to the US first and then you would claim a credit for the tax on your Canadian return.
If the waterfront property was in the Grand Cayman Islands or the Bahamas or the Turks and Caicos or another 50 countries I could think of, there would be no local taxes but the estate would owe the same $237,000 or so if you lived in BC because of the deemed sale on death. 
It is always easier to receive cash.
This sounds more like I might be answering a school question (based on your email address) so I am going to stop here.  I could write a 300 page manuscript on the rest of your question.
David Ingram's US/Canada Services
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321 
New email to [email protected]
www.centa.com www.david-ingram.com
Disclaimer:  This question has been answered without detailed information or consultation and is to be regarded only as general comment.   Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader & the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent financial, or real estate planner or advisor & appropriately qualified legal practitioner, tax or immigration specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included."
Be ALERT,  the world needs more "lerts"
This from "ask an income tax and immigration expert" from www.centa.com or www.jurock.com or www.featureweb.com. Canadian David Ingram deals daily with tax returns dealing with expatriate:
multi jurisdictional cross and trans border expatriate problems  for the United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait, Dubai, Saudi Arabia, South Africa,  Thailand, Indonesia, Egypt, Antartica,  Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and Mexican and any of the 43 states with state tax returns, etc.
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another similar question will be as we lump them.
You may find more answers at www.centa.com
David Ingram of the CEN-TA REALTY  Group
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
(604) 980-0321 - Fax 913-9123 [email protected]
www.centa.com www.david-ingram.com
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