Direct designation

Summary policy

As a result of Budget 2010, the information on this page applies only for fiscal periods ending before March 4, 2010.

September 3, 2003 (Revised September 13, 2005)

Reference number

Key words

Direct designation - Enduring property - Life insurance policy

Policy statement

Under the Income Tax Act, a charitable donations tax credit can be claimed on a deceased individual's return for a donation of a direct distribution of proceeds to a qualified donee who is the designated beneficiary of a registered retirement savings plan (RRSP), a registered retirement income fund (RRIF), or a life insurance policy.

Under the Act, a gift received by a registered charity by way of direct designation is a gift of enduring property.

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