22 October 1992 External T.I. 9231375 F - Donation Of Group Life Insurance Policy

By services, 7 July, 2022
Official title
Donation Of Group Life Insurance Policy
Language
French
CRA tags
118.1(1) total charitable gifts
Document number
Citation name
9231375
Severed letter type
Technical Interpretation - External
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
650110
Extra import data
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"field_proprietary_citation": [],
"field_release_date_new": "1992-10-22 08:00:00",
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Main text
  923137
          24(1) J.D. Brooks
  (613) 957-2103

Attention:  19(1)

October 22, 1992

Dear Sirs:

Re:  Donations of Group Life Insurance Policies

This is in reply to your letter of September 24, 1992 in which you requested clarification of our letter of May 29, 1992 as to whether the donation of a group life insurance policy to a charity would qualify under "total charitable gifts".

Our Comments

Generally, it is our understanding that the members of a group policy would not have property with a paid-up value which could be transferred to a charity as a qualifying gift. We would be pleased to review any specific proposed gift in the context of a request for an advance income tax ruling.

Yours truly,

E. Wheelerfor DirectorBusiness and General DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch