September 3, 2003
Will - Bequest
A gift by will is made when an individual makes a bequest under a last will and testament. Under the Income Tax Act, an individual that makes a gift by will to a qualified donee is deemed to have made a gift immediately before the individual died.
- Summary Policy CSP-B04, Bequest
- Summary Policy CSP-D09, Direct Designation
- Guidance CG-010, Qualified Donees
- Pamphlet P113, Gifts and Income Tax
- Income Tax Act, R.S.C. 1985 (5th supp.) c. 1, ss. 118.1(5).
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