By Karen Cooper A rare potential conservation donation in Georgian Bay, Ontario, with a common potential environmental conservation tax barrier recently produced a successful gift and good news for taxpayers and land conservation organizations. The Georgian Bay Land Trust (GBLT) had an opportunity to protect an undeveloped island featuring undisturbed stands of White Pine and […]
Ecological Gifts and Change of Use Tax
By Arthur B.C. Drache, CM, QC A recent ruling letter 1 from the CRA highlighted what for most is an obscure provisions of the Income Tax Act which related to gifts of ecological property. Section 207.31 of the Act imposes a tax on any charity, municipality in Canada or municipal or public body performing a function […]