Looking for Income Tax Breaks?
Nature Conservancy of Canada urges people to look at land, cash donations
With personal income tax season upon us and people getting ready to start preparations, the Nature Conservancy of Canada in Prince Edward Island is bringing attention to future tax breaks they can receive.
The Nature Conservancy of Canada is looking for full or partial land donations in the province. The not for profit organization is reminding people of the benefits associated with gifts of ecologically significant lands for permanent conservation.
The Nature Conservancy of Canada is a registered charity and issues tax receipts for any cash donations and land donations. People and families who have parcels of land they wish to see protected but are not sure of what their options are – are encouraged to contact NCC staff on Prince Edward Island.
“Here on Prince Edward Island, we are looking for forested, wetland and coastal sites that help protect important habitats and at risk species,” said Julie Vasseur, Program Director for the Nature Conservancy of Canada. “Gifts of land ensure it is protected for future generations and it is a great way to protect a site that has sentimental value to an individual or family”.
For any land gift, the Nature Conservancy of Canada issues a charitable tax receipt for the value of the parcel of land. In addition to that, Environment Canada, has a program called Ecological Gifts Program. It offers residents and corporations additional tax credits for their land donations. It is important to note that in most provinces, a reduction in federal tax payable will also reduce provincial tax.
An increasing number of conservation-minded Canadian landowners take part in the Ecological Gifts Program each year.
The Nature Conservancy of Canada has worked with private land owners on 47 Ecological Gifts throughout Canada, including three in Prince Edward Island.
One of the ecological gifts involved the MacEwen Family who generously contributed land in memory of a loved one along the Gulf of St. Lawrence.
"When we decided, as a family, to donate land and beach front in St. Peters Harbour to the NCC the whole process was made easy with the help from excellent staff at NCC. We realized substantial tax advantages from donating the property and additional tax savings by having the property designated as an ecological reserve again with assistance from NCC,” said Garry MacEwen, a land donor and recipient of the Ecological Gifts Program. “But the most rewarding aspect of the donation is the fact that the property bears the name of our brother and will for generations to come as the land remains in its natural state. We as a family are very pleased with the results which we witness every time we walk on the beach and see the sign put up by NCC to highlight the reserve and honor our brother".
To learn more about the Ecological Gifts Program, please visit http://www.ec.gc.ca/pde-egp/.
The Nature Conservancy of Canada is the nation's leading land conservation organization, working to protect our most important natural areas and the species they sustain. Since 1962, NCC and its partners have helped to protect more than 2.7 million acres (over 1.1 million hectares), coast to coast. The Nature Conservancy of Canada has conserved 4,717 acres (1,909 hectares) in PEI. For further information, visit www.NatureConservancy.ca/pe.
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