Time is running out. Our most precious lands in southern Ontario are under threat. Some predict we are too late; some say we have only a very few years to secure essential lands required to keep our lands and wildlife healthy in perpetuity. We believe we have a chance - with your help.

How you can help conserve land in Ontario forever:

- Join your local land trust today.
- Make a donation to your local land trust.
- Add a Bequest to your will
- Advocate for land conservation in your municipality.
- Learn about the benefits of community-based land trusts for the protection of local land and share your knowledge widely.
Media

 MEDIA RELEASE
December, 2008

Ontario Land Trust Alliance supports CRA warnings
OLTA discourages participation in Tax Shelters

The Canadian Revenue Agency (CRA) has issued warnings, alerts and fact sheets on the subject of tax shelters every November since 2003.  They can be found at www.cra-arc.gc.ca.

CRA warnings communicate the risk related to participating in certain tax shelter gifting arrangements and makes clear that CRA is continuously evaluating all such arrangements to ascertain whether or not they comply with the Income Tax Act. 

A tax shelter gifting arrangement typically promises its participants tax savings greater than the cost of participation in the scheme, thus allowing donors to “profit” from donating to a charity. Prominent examples of such schemes include gifting trust arrangements, leveraged cash donations and buy-low, donate-high schemes.   

Ontario Land Trust Alliance strongly supports CRA’s message regarding tax shelters and encourages land trusts to conduct their philanthropy and fundraising activities in an ethical and responsible manner[1].  

Donors participating in some tax shelter schemes are “profiting” from donating to a charity. Therefore, some tax shelters expose donors to unacceptable risks as all taxpayers can be reassessed for up to three years from the date of assessment.

In October 2006, the Canadian Securities Administrators (“CSA”) urged investors to do their homework and to get professional advice before getting involved with a tax shelter type of investment. 

In April 2007, Paulette Maehara, CFRE, CAE, president and CEO of Association of Fundraising Professionals said “The most precious resources a charity has are its name and reputation, and involvement with a tax shelter can lead to a significant drop in public trust and confidence – not just for the particular charity involved but for the entire sector.”

Now in December 2008, Ontario Land Trust Alliance is discouraging all charities and particularly all land trusts from participating in any tax shelter.

[1]Canadian Land Trust Standards & Practices, Standard 5 Fundraising and Philanthropy, www.olta.ca