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- Title
CHARITABLE GIFT PLANNING: IMPLICATIONS OF THE NEW RULES FOR GIFTS ON DEATH AND TRUST TAXATION.
- Authors
Ball, Bruce; Diker, Lisa; Sideris, Danielle
- Abstract
A previous article on this subject, published in this feature in 2011, focused on the factors to be considered when determining whether a gift made under the terms of a will would qualify as a charitable bequest for the purposes of the Income Tax Act. More recently, new donation rules have been enacted that apply on death, along with significant changes to trust taxation that will affect the eligibility of gifts made on death for the donation tax credit. This article presents a summary of the key rules that have changed and possible tax strategies. All estate plans involving material donations should be re-examined in light of these changes.
- Subjects
CANADA; GIFT tax laws; TAXATION of trusts; WILLS; CANADA. Income Tax Act; TAX credits
- Publication
Canadian Tax Journal / Revue Fiscale Canadienne, 2015, Vol 63, Issue 3, p803
- ISSN
0008-5111
- Publication type
Article