So highly appreciated assets with large unrealized capital gains that are transferred at death can be sold by the beneficiaries shortly afterwards with minimal income tax impact. (wisemoneytips.com)
Many cottages were purchased years ago and have large unrealized capital gains. (canadiancapitalist.com)
In summary, where there is a large unrealized capital gain on a family cottage, there will be no income tax panacea. (canadiancapitalist.com)