A magnetic resonance imaging (MRI) system acquires MRI data within one patient breath-hold sufficient to generate (a) at least one tag-off first type non-contrast cardiac perfusion image using a data acquisition sub-sequence including a non-selective IR (inversion recovery) pulse and (b) at least one tag-on second type non-contrast cardiac perfusion image using a data acquisition sub-sequence including a non-selective IR pulse and a spatially selective IR pulse. A set of registered tag-on and tag-off images are differentially combined to produce an accurate cardiac perfusion image.