Principal Issues: Does a trust's "total gifts" for the year in which a beneficiary of the trust dies include the eligible amount of a gift of capital property made in the year immediately following that year?
Position: Yes, variable B of the definition "total gifts" refers to the taxable capital gain (if any) that is in respect of the gift and only to the extent that the eligible amount of the gift is included in the individual’s total charitable gifts for the taxation year.
Reasons: Variable B of the definition "total gifts" refers to the individual's "taxable capital gain for the taxation year in respect of a gift made by the individual in the taxation year (in respect of which gift an eligible amount is included in the individual's total charitable gifts for the taxation year)." However, this does not include any taxable capital gains resulting from the deemed disposition of property by a trust that arises from the death of an individual beneficiary.
