Leave a natural legacy and save on your 2018 taxes too
It’s tax season, and the Nature Conservancy of Canada (NCC) has suggestions on how individuals and companies can reduce or eliminate their taxes in 2018 and leave a natural legacy at the same time. NCC is a registered charity and issues tax receipts for donations of ecologically significant land. The conservation organization also provides tax receipts for donations of cash, stocks, RRSPs, life insurance and securities.
“There are generous tax incentives in place to encourage Canadians to conserve some of our most important natural places. By supporting the Nature Conservancy of Canada, either through land donations or financial contributions, people can make a lasting contribution to the community, leave a legacy for future generations and receive tax benefits at the same time,” says Paula Noel, New Brunswick program director with the Nature Conservancy of Canada.
For gifts of land to be considered, they must meet the Nature Conservancy of Canada’s criteria for protection: old forests, large wetlands and habitat for species at risk are examples of the types of properties most likely to be accepted for long-term conservation. Charitable tax receipts are based on the appraised value of the property, provided by independent appraisers.
Gifts of land to the Nature Conservancy of Canada may be eligible for additional benefits under Environment Canada’s Ecological Gifts Program, such as the full elimination of the capital gains tax. More than 1,200 gifts of land have been made under the Ecological Gifts Program, and an increasing number of conservation-minded Canadians are taking advantage of the program each year. Many of these land donations involve a personal history, with sites conserved and dedicated in honour of friends and family members.
New Brunswickers wishing to look into these types of charitable gifts and related tax incentives are encouraged to contact the Nature Conservancy of Canada’s Fredericton office at 1-877-231-4400 to discuss options for conserving their land or contributing to local conservation projects.
To learn more about the Ecological Gifts Program, visit ec.gc.ca/pde-egp/ and for information on other types of gifts, please visit natureconservancy.ca/en/what-you-can-do.
The Nature Conservancy of Canada (NCC) is the nation's leading not-for-profit, private land conservation organization, working to protect our most important natural areas and the species they sustain. Since 1962, NCC and its partners have helped protect 2.8 million acres (more than 1.1 million hectares), coast to coast. Visit natureconservancy.ca.
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