Estate Law

Estate Donations and Non-Qualifying Securities

Since the announcement of the “estate donation” rules in the 2014 Federal Budget, there have been a number of amendments that have addressed sector concerns and drafting errors.  

One unintended consequence in the original estate donation provisions relates to gifts of private company shares.  All estate donations of private company shares to any registered charity would be categorized as a non-qualifying security, not just gifts to private foundations.  As a result, no tax receipt could be issued until the shares are sold within a 60-month window.   

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