Ethel is drafting her will and she discusses charitable giving with Anna, her insurance agent. She has always supported the local cancer research foundation. Having no next of kin, Ethel would like the foundation to receive her investments, both registered and non-registered when she dies. How much can be claimed as a charitable donation when Ethel dies?

a) 50% of net income in the year of death or year preceding death

b) 75% of net income in the year of death or year preceding death

c) 85% of net income in the year of death or year preceding death

d) 100% of net income in the year of death or year preceding death

Answer rating: 100% (QA)

Charitable Donations Charitable donations are the contributions made by the individuals to support c... View the full answer