Important Tax Benefits of Gifts of Land
Bunchberry (Photo by Jean Isaacs)
Favourable tax implications are associated with the donation of land or conservation agreements. This is true for corporations as well as for individuals.
Donors of land or conservation agreements receive a significant reduction in the amount of their federal and provincial tax payable through tax credits resulting from the value of the gifted lands.
Donations of ecologically sensitive land can be applied against 100 per cent of a donor's income. Donors also pay no capital gains tax on Ecogifts.
Additional tax advantages of Ecogifts include:
- eliminated taxable capital gain on the disposition of the property
- no income limit for calculating the tax credit/deduction
- donation value certified by the Government of Canada
Need more information?
For more information on tax benefits of land donation, conservation agreements or Environment Canada's Ecogifts Program, follow the links to the left of this page. Or, please contact your financial advisor, legal counsel or the NCC Regional office near you.
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Note: The information on this website is general in nature and does not constitute legal or financial advice. As tax laws are constantly changing, we strongly urge you to seek professional legal, estate planning and financial advice before deciding on a course of action.