DONATION RECEIPTS – NON-CASH GIFTS

In a May 25, 2016 Tax Court of Canada case (Shahbazi vs. H.M.Q., 2015-5085(IT)I), it was determined that non-cash donations of household items valued at $20,000 in 2006 and $15,000 in 2007 were denied on the basis of inadequate donation receipts. Receipts were provided with assessed amounts, however, they failed to contain a description of the property donated. 

For further information see VTN Monthly Tax Update Seminar, Issue No. 419