How do other countries tax inheritance? - Measuring Tools & Sensors

This is from my financial advisor

In case you didn't notice. Here is what happened on January 1, 2015 : Top Medicare tax went from 1.45% to 2.35%

Top Income tax bracket went from 35% to 39.6%

Top Income payroll tax went from 37.4% to 52.2%

Capital Gains tax went from 15% to 28%

Dividends tax went from 15% to 39.6%

Estate tax went from 0% to 55%Remember this fact: These taxes were all passed only with democrat votes, no republicans voted for these taxes. These taxes were all passed under the Affordable Care Act, aka Obamacare.

Please provide foundation for question. Income increase, windfalls, sold property, inheritance. Income tax changes with circumstances. Question is too complex for simple answer...not appropriate to ask here.

Too much. But all inheritance is tax free up to a certain amount...the last I heard, $600,000. That's Federal. States have their own rules. Your best bet is to get a hold of a financial councelor and ask.

Inheritance Tax is due when a person's estate (their property and possessions) is worth more than 325,000 when they die. This is called the 'Inheritance Tax threshold'.
The rate of Inheritance Tax is 40% on anything above the threshold. The rate may be reduced to 36% if more than 10% of the estate is left to charity.

Heirs are exempt from the 10% early withdrawal penalty, however you will still pay taxes.
If your father had a traditional IRA you will pay income taxes on withdrawals.
If his IRA account was a Roth, you won't have to pay income tax unless the account is less than 5 years old.

That depends on what you're inheriting from whom, and on the inheritance laws of your country, state, or province. Have you asked the bank what they require from you?

farm house on agricultural land is exempt from tax.