[Maggie-G]

2007 Intention – To make ecological gift of land to qualified registered charity. The process began in 2007

2008 Land Title Transferred – To the charity – no benefit received, no capital gains calculated as donor was still waiting for certification by Minister of the Environment, no charitable donation reported

2009 Result – Minister of the Environment did not certify the ecological gift. Donor agreed to accept from the qualified charity a regular (non eco-gift) type of donation receipt for the land. That official donation receipt was dated 2009.

Surface Comments
–It appears that an applicable capital gain calculation would be applicable to 2008 when land was transferred to the charitable organization.
–And the donor would have to wait until 2009 to claim the eligible donation
–If the surface comments are true, I’d be interested in investigating anyway to defer the 2008 gain until 2009.

I thank anyone in advance for direction to online reading material that may address this type of scenario.

[dunner]

I don't have specific references but the disposition of the property happens when the title changes and the charity takes on the risks and rewards of ownership. That is, if the charity started paying property taxes on this property in 2008 then it's difficult to argue that a disposition didn't occur in 2008. It might be better to see if the charity can amend their books to issue the receipt as a 2008 donation. I know they wouldn't do this for my $100 donation but for a piece of property they might be more willing. I'm sure everyone realizes now that the property shouldn't have actually been transferred until the details were known.

[Maggie-G]

dunner, on Jan 13 2010, 10:11 AM, said:

I don't have specific references but the disposition of the property happens when the title changes and the charity takes on the risks and rewards of ownership. That is, if the charity started paying property taxes on this property in 2008 then it's difficult to argue that a disposition didn't occur in 2008. It might be better to see if the charity can amend their books to issue the receipt as a 2008 donation. I know they wouldn't do this for my $100 donation but for a piece of property they might be more willing. I'm sure everyone realizes now that the property shouldn't have actually been transferred until the details were known.

Hey Dunner!
Finally, at long last the Charitable organization agreed to amend the receipt. Just received it today! Now I'm a happy camper!

Thanks again,
Maggie-G