December 22, 2019

What are the tax implications of donating land?

If you are a Canadian landowner with a commitment to the land, you may be considering making a private land gift to preserve Canada’s ecological diversity. Before you call a charity, check out these how-to tips on different ways to make land donations or to arrange for conservation agreements on land you may want to preserve for future beneficiaries. There are ways to decrease your tax obligations, including capital gains taxes. If you are unfamiliar with the federal Ecogift program, this article gives you a primer on how it works, and presents useful links to find out more about tax incentives to landowners who want to preserve and earn certification for property which is ecologically sensitive.

“Donating eligible land to a charity can help you avoid capital gains tax, as well as qualify for a charitable donation tax credit.”

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