- Standard 10: Tax Consequences

The land trust works diligently to see that every charitable gift of land or conservation agreements meets federal and provincial tax law requirements.


PRACTICE

A. Independent Legal and Tax Advice

The land trust advises (in writing) potential land or conservation agreement donors to get independent legal, financial and tax advice before completing any transactions. The land trust notifies potential donors that there may be negative tax consequences to their donation including capital gains or pension claw backs that should be investigated by the donor's lawyer and accountant.