Looking for some relief on your taxes? The Nature Conservancy of Canada has an idea.
Spokesman for the Nature Conservancy, Andrew Holland says, what they offer is not a well known program, and they’re trying to provide another way to reduce your taxes.
As for how exactly the Ecological Gifts Program works?
“If you donate a parcel of land, the Nature Conservancy of Canada will give you a charitable tax receipt for the appraised value of the land. The second tax break comes from the federal government. Because if you donate 20 per cent of the land, and it is deemed ecologically significant, you get capital gains tax exemptions over a ten year period.”
Holland adds, they encourage those who have land they wish to see protected, to contact the N.C.C.
Since the program began in 1995, over $807 million dollars worth of land has been donated across Canada, protecting over 180 thousand hectares.