Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues:
Whether, where a will provides for a gift to a university, such a provision can be interpreted as being a direction to make a gift to a foundation for the university.
Position:
It cannot be so interpreted.
Reasons:
The foundations established pursuant to the University Foundations Act, 1992 are separate entities from the universities for which they are established.
5-961390
XXXXXXXXXX C. Chouinard
Attention: XXXXXXXXXX
May 27, 1996
Dear Sir:
Re: Bequest to Ontario University
This is in reply to your letter of April 19, 1996, wherein you requested our comments regarding a provision in a will that provides for a donation to an Ontario university.
You indicate that the Ontario university in question was prescribed as a university for which a foundation was established by the University Foundations Act, 1992 subsequent to the taxpayer's death. You inquire whether the bequest made by the deceased taxpayer in the will could be considered to be a bequest to the foundation established for the particular university.
As the foundations established pursuant to the University Foundations Act, 1992 are separate entities from the universities for which they are established, where a will provides for a donation to a university, in our view, the will would not be considered to be providing for a donation to its established foundation.
We trust that these comments will be of assistance.
Yours truly,
R. Albert
for Director
Business and Publications Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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