Summary Policy

Date
September 3, 2003

Reference Number
CSP - A26

Key Words
Asset

Policy Statement

A registered charity's assets includes, among others, amounts receivable, bank accounts, capital assets, cash, inventories, long-term investments and short-term investments.

A registered charity must report the value of its assets on a cost basis (i.e., the amount the charity paid to acquire the asset). If an asset is donated to a charity, the value is the fair market value of the asset on the day the charity received the gift.

References

• Fair Market Value, CSP - F02.
• Completing the Registered Charity Information Return, T4033A.
• Registered Charity Information Return, T3010A.