Here is a Helpful Glossary of Gift Planning
Browse the glossary using this index
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Adjusted Cost Base
Adjusted cost base. The original cost of property adjusted in accordance with the provisions of the Income Tax Act.
Alter ego trust
A trust where the settlor (person transferring property into the trust) acts as trustee and receives income (as beneficiary) from the trust while alive.
A contracted right to receive payments of a specific amount at stated intervals for life, or for a term of years, in consideration of a transfer of cash or other assets.
A person or organization entitled to benefit, especially under a trust or will.
A gift made to someone or to an organization in a will.
With reference to a trust, the principal upon which income is earned. Also called corpus.
Capital cost allowance
A prescribed amount claimed on depreciable property acquired for the purpose of producing income and deducted from income from a business or property. Effectively, it allocates the cost of assets over the useful life of the asset.
A gain arising on the disposition of capital property calculated by
subtracting the adjusted cost base of capital property plus the cost of disposing of the property from the value of the property at the time of its disposition.
A loss arising on the disposition of capital property, generally, the excess of the adjusted cost base over the proceeds of disposition of the property, less the costs associated with disposing of the property.