The 'gift in kind' is an option that has benefitted several of our parishes over the years. Many of our churches were built on donated land and/or with donated material.
A gift in kind must be a donation of actual property, not of personal services. The charitable tax credit is normally based on the donated property’s fair market value. While the Canada Revenue Agency (CRA) generally will accept the charity’s valuation of donated property worth less than $1,000, it’s best to get an independent appraisal for more valuable items, as the CRA may look closely at the valuations on gifted property.
The CRA has particular rules for donating certified Canadian cultural property and ecologically or environmentally sensitive land. Such gifts may be eligible for a tax credit of up to 100 per cent of your net income in the year of the gift, and are exempt from capital gains tax.
Prior to making a donation or gift, we recommend that donors seek independent professional advice concerning the possible financial, taxation and legal consequences.
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Accoradtion Demo. One of the best ways you can learn about the Catholic Faith is to contact a Catholic parish near you to let them know that you are interested in learning more about the Faith. You can also explore an Overview of Catholic Teaching on our website, or consult the Catechism of the Catholic Church.
One of the best ways you can learn about the Catholic Faith is to contact a Catholic parish near you to let them know that you are interested in learning more about the Faith. You can also explore an Overview of Catholic Teaching on our website, or consult the Catechism of the Catholic Church.