Summary policy

September 3, 2003

Reference number

Key words

Will - Bequest

Policy statement

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 is deemed to have disposed of capital property just before dying.

For deaths on or after January 1, 2016, a gift by will is deemed to be made when the gift is transferred to the qualified donee. For deaths occurring on or before December 31, 2015, a gift is deemed to be made just before death.


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