The information on this page applies only for fiscal periods ending before March 4, 2010.
September 3, 2003 (Revised September 13, 2005)
Bequest - Enduring property - Will
A bequest is an amount that a registered charity receives from the will of a deceased person. Under the Income Tax Act, a bequest is a gift of enduring property. Bequests are generally excluded from a charity's disbursement quota. However, bequests must be included in calculating the disbursement quota in the year in which they are spent or transferred to a qualified donee.
- Summary policy CSP-W02, Will
- Form T1259, Capital Gains and Disbursement Quota Worksheet
- Form T3010, Registered Charity Information Return
- Guide T4033, Completing the Registered Charity Information Return
- Income Tax Act, R.S.C. 1985 (5th supp.) c. 1, ss. 149.1(1)
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