Tax Benefits

A donation to the Niagara Land Trust or an interest in a property such as a conservation agreement can provide a variety of tax benefits. For each case, the value of the property is determined by an appraiser and a tax receipt is issued for the value of the donation. There could be other tax benefits to landowners depending on the situation.

Possible tax benefits include:

• A donation of land may be exempt from capital gains tax if it qualifies under Environment Canada’s Ecological Gift Program

• The tax receipt may be applicable against annual income for up to five years from the time of the donation

• American landowners may be able to obtain U.S. tax receipt for cash or donated properties situated in Canada

Bob Barnett from Escarpment Biosphere Conservancy wrote an excellent article for Escaprment Views describing various tax benefits to conserving your property. Please read Saving Money Through Conservation Programs