DONATION OF PRIVATE CORPORATION SHARES OR REAL ESTATE

 

After significant efforts by the charitable sector, the 2015 Federal Budget proposed to allow an exemption from capital gains tax if proceeds of sale of private corporation shares or real estate are donated to charity within 30 days after disposition. This was great news for Canadian charities. To qualify, the purchaser must be at arm’s length from both the donor and the recipient, among a number of other qualification criteria. Donations made with proceeds of disposition occurring after 2016 will qualify for this exemption.

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