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- Title
Charitable Gifts of Conservation Easements: Lessons from the US Experience in Enhancing the Tax Incentive.
- Authors
Zweibel, Ellen; Cooper, Karen J.
- Abstract
In Canada, the Income Tax Act provides favourable capital gains treatment for gifts of full and partial interests in ecologically sensitive land made to eligible conservation charities, municipalities, and federal and provincial governments through the ecological gifts program (EGP). Such donations increasingly take the form of conservation easements--binding agreements between landowners and conservation organizations that permanently restrict land development or create affirmative obligations in favour of specific conservation objectives. This article compares key features of the current Canadian and US tax incentives for donations of conservation easements with a view to considering whether Canada's EGP should expand its current provisions to include some us features aimed at increasing donations from "land-rich and cash-poor" taxpayers. These features include transferable tax credits, longer carryforward periods, the possibility of carrybacks, limited refundable tax credits, and intergenerational transfers of unused charitable credits.
- Subjects
CANADA; UNITED States; INCOME tax laws; GIFT taxes; CHARITABLE uses, trusts, &; foundations
- Publication
Canadian Tax Journal / Revue Fiscale Canadienne, 2010, Vol 58, Issue 1, p25
- ISSN
0008-5111
- Publication type
Article