Summary Policy

Date
November 26, 2003

Reference Number
CSP - T08

Key Words
Tax shelter

Under the Income Tax Act, a tax shelter includes any property or gifting arrangement for which a promoter represents that an investor can claim deductions or credits which equal or exceed the cost of the property less certain benefits within a four year period.

• Gift, CSP - G01.
• Tax, CSP - T01.
• Risks Associated with Tax Shelters, Fact Sheet, Updated November 2000.
• Tax Shelter Donation Arrangements, Fact Sheet, November 2003.
• Income Tax Act, R.S.C. 1985 (5^th supp.) c. 1, ss. 237.1(1) and 248(1).