Where a registered charity has solicited individual contributions of capital to the charity in exchange for immediate guaranteed payments to the individual for life at a specified rate, the charity is not restricted as to the steps it may take to facilitate payment of the annuity. It may purchase an annuity from a recognized annuity issuer, either in the name of the donor or in its own name with a direction to pay in favour of the donor. The amount of the gift to the charity will be equal to the amount, if any, by which the amount of the payment to the charity exceeds the total of the annuity payments expected to be received by the donor pursuant to the life expectancy tables provided in IT-111R.
Topics and taglines
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
311402
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
341824
Extra import data
{
"field_editor_tags": [],
"field_roundtable_subquestion": "7",
"field_stub": false,
"field_legacy_header": "1994 Institute of Chartered Accountants of Nova Scotia Roundtable, Q. 7, File No. 7-940145 (C.T.O. \"Annuities Purchased from Charitable Organizations\")"
}
"field_editor_tags": [],
"field_roundtable_subquestion": "7",
"field_stub": false,
"field_legacy_header": "1994 Institute of Chartered Accountants of Nova Scotia Roundtable, Q. 7, File No. 7-940145 (C.T.O. \"Annuities Purchased from Charitable Organizations\")"
}