Ecological Gifts
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The Ontario
Ecogifts Handbook 2005 |
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The 2005 Ontario Ecogifts handbook is a
complete guide to certifying a donation as an ecological gift
and replaces the 2003 version. Now available online. |
The Ecological Gifts Program enables owners of property with sensitive
natural features to preserve wildlife habitat. Ecogifts, Ecological
Gifts, Donations of Ecologically Sensitive Land – these phrases
describe qualified charitable land donations that generate enhanced
income tax benefits. Donations of fee simple title and partial interests,
including conservation easements, are eligible. And, in many scenarios
the landowner can continue to hold title and/or live on the land.
Donors of
wild assets ensure permanent conservation and stewardship of natural
heritage. Past gifts have included wetlands, forests, prairies,
and other environmentally-sensitive areas.
Gift recipients include land trusts and other conservation charities,
and government agencies chosen by donors and approved by the federal
government. Donors of ecogifts receive a donation receipt for the
fair market value of the gift.
A conservation easement
donor |
Ecogift donor Steven
Waring shares his ecogift donation story to protect
a special place nestled beside the Niagara Escarpment.
See more
about this story. |
Ecogift tax advantages include:
- no income limit for calculating the tax credit or deduction
- reduced taxable capital gain (25% versus the usual 50% inclusion)
- donation value certified by the Minister of the Environment
- possibility of having the gift value determined before
the gift is made; and
- tax penalties for recipients who do not protect the gifted
land
Individuals or corporations can create a legacy and
contribute to Canada’s rich biodiversity.
Explore the site to learn if an ecogift is a good option for you
or your clients to protect nature.
Split-receipting – a new donation option
In December, 2002, the Canada Customs and Revenue Agency (CCRA)
released Proposed Guidelines on Split-Receipting
(Income Tax Technical News No. 26; www.ccra-adrc.gc.ca/E/pub/tp/itnews-26/itnews-26-e.pdf *).
These guidelines related to proposed amendments to the Income
Tax Act. Basically, donors can now receive an advantage (such
as cash) and a donation receipt for the difference between the value
of the property and the advantage received. Recipients and donors
should refer to their legal advisors and the draft guidelines on
the CCRA Web site for details and restrictions. Also see Confirmation
that Ecogifts are Eligible for Split-Receipting; www.cws-scf.ec.gc.ca/ecogifts/split_e.cfm. |
