16 June 2014 STEP Roundtable, 2014-0523061C6 - Trust audit issues -- summary under Total Charitable Gifts

In the course of commenting on common audit issues for trusts, CRA stated:

Compliance issues are often encountered [respecting]…gifts by will. … 2012-047216117 dealt with the issue of whether the executors of an estate were empowered to make a gift to charities, and thus claim a deduction pursuant to subsection 118.1(3) in computing the tax payable by the estate. Based on the terms of the will in the particular case, it was our view that the executors did not have the power to make such a gift.

Topics and taglines
Topic
Income Tax Act - s. 118.1(1) - Total Charitable Gifts
Tagline
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
318915
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
341842
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