Bequests

A bequest to the Diocese or a parish is the donation of a specific asset, or part or all of one's estate. This kind of donation would be provided for in your Will. The income tax credit for the donation can be claimed in the donor’s final income tax return, as well as in the previous taxation year’s return. Because of this, care should be taken to make sure the maximum credits can be claimed. Depending on the property being left to the Church, there could be income tax implications depending on any gain or loss realized on the deemed disposition of the asset in the deceased’s final tax return.

Donations from a bequest can be claimed to 100% of net income.

A bequest does not give the Church or parish use of the donation until the property is transferred. The person maintains full control and use of the asset, and they have the ability to change their Will to alter the bequest until death.

Suggested legal wording for a bequest in your Will

To ensure there will be no difficulty understanding your intentions, the following are suggested legal texts when leaving a bequest.

For your parish — specific bequest

“To pay to (Name of Parish) Roman Catholic Parish located at (XX address) with Canada Revenue Agency Charity Registration Number (12995-0804-00XX) for its own use absolutely, the sum of $_________. I declare that the receipt of the person professing to be the Pastor or Parochial Administrator of the parish shall be sufficient discharge to my Trustee who need not see to the application thereof. I further direct that if (Name of Parish) does not exist at the time of my death, this bequest shall be paid to the Parish’s successor, and if no such successor exists, then to the Roman Catholic Diocese of Victoria, legally known as Bishop of Victoria, Corporation Sole, for it to pay to a parish it has designated to replace the (Name Parish).”

For your parish — percentage of the residue of the estate

“To pay to (Name of Parish) Roman Catholic Parish located at (XX address) with Canada Revenue Agency Charity Registration Number (12995-0804-00XX) for its own use absolutely, ______% of the net residue of my Estate. I declare that the receipt of the person professing to be the Pastor or Parochial Administrator of the parish shall be sufficient discharge to my Trustee who need not see to the application thereof. I further direct that if (Name of Parish) does not exist at the time of my death, this bequest shall be paid to the Parish’s successor, and if no such successor exists, then to the Roman Catholic Diocese of Victoria, legally known as Bishop of Victoria, Corporation Sole, for it to pay to a parish it has designated to replace the (Name Parish).”

For the Diocese—specific bequest

“To pay to the Roman Catholic Diocese of Victoria, legally known as Bishop of Victoria, Corporation Sole, located at 4044 Nelthorpe St. Victoria, BC V8X 2A1 with Canada Revenue Agency Charity Registration Number 12995-0804-0001 for its own use absolutely, $___________. I declare that the receipt of the person professing to be the Vicar General shall be sufficient discharge to my Trustee who need not see to the application thereof.”

For the Diocese—percentage of the residue of the estate

“To pay to the Roman Catholic Diocese of Victoria, legally known as Bishop of Victoria, Corporation Sole, located at 4044 Nelthorpe St. Victoria, BC V8X 2A1 with Canada Revenue Agency Charity Registration Number 12995-0804-0001 for its own use absolutely, ______% of the net residue of my Estate. I declare that the receipt of the person professing to be the Vicar General shall be sufficient discharge to my Trustee who need not see to the application thereof."

Prior to making a donation or gift, we recommend that donors seek independent professional advice concerning the possible financial, taxation and legal consequences.