Donating RRIFs and RRSPs
The Art Gallery of Greater Victoria can be named as a beneficiary on your registered retirement plan, such as your RRSP or RRIF. A tax receipt for the value of the investment gifted will be issued to your estate and can be applied to your income tax return.
Your estate may claim gifts in the year of death equal to 100 percent of your net income in that year and in the previous year.
You have full use of the retirement saving investment while you are alive and the gift can be revoked if your financial situation changes.
To learn more about donating RRIFs and RRSPs to the Art Gallery of Greater Victoria, be sure to contact your legal, tax, and financial advisors.