At tax time, consider a donation to NCC
We have some suggestions for how people can reduce their taxes, and at the same time, leave a lasting legacy.
It’s tax time, and Canada’s largest land trust has suggestions for how people can reduce their taxes, and at the same time, leave a lasting legacy. The Nature Conservancy of Canada (NCC) offers unique opportunities for donors who care about the planet.
“Supporting the Nature Conservancy of Canada through land donations or financial contributions is a great way for people to help protect important natural areas they love. In return, their donation could qualify them for a tax break,” says John Foley, Atlantic Region Vice President, Nature Conservancy of Canada.
Because the Nature Conservancy of Canada is a registered charity, monetary donations automatically quality for a tax receipt. Those wishing to donate land could also qualify for tax credits if land offered to NCC meets approved Government of Canada conservation criteria for wildlife habitat or biodiversity. Tax credits from the land gift will reduce the amount of payable taxes for up to five years.
There is an additional financial incentive for donating lands that meet the Government of Canada’s criteria under the Ecological Gifts Program, which is designed to encourage land conservation by private individuals and companies. The program, delivered by Environment and Climate Change Canada, offers the full elimination of the capital gains tax and an extension of the five-year carry-forward period for claiming the donation to 10 years.
An increasing number of conservation-minded Canadians are taking advantage of the Ecological Gifts Program each year. Since its inception in 1995, NCC has received 359 gifts of land across Canada. For many of these donations families dedicated nature sites in memory of loved ones.
In Newfoundland and Labrador, the Nature Conservancy of Canada is seeking donations in support of its Freshwater Bay and Avalon Peninsula coastline conservation projects. For potential land donations, NCC is interested in acquiring larger parcels of land containing older, intact forests, as well as land along rivers or the coast, particularly in the Codroy Valley, and along Crabbes River and Barachois Brook.
NCC recommends that people wishing to look into these types of charitable gifts and related tax incentives should consult with tax planning professionals. People with lands that they may wish to consider donating for conservation are encouraged to contact the Nature Consevancy of Canada’s St John’s office at 1-709-753-5540.
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