Memorandum of Understanding Between the Government of Canada and the Government of the Province of New Brunswick - Concerning Implementation of Changes to the Income Tax Act of Canada with regard to the Donation of Ecologically Sensitive Lands
Type
Publication
Authors
Category
SCIWC Library
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Publication Year
1996
Pages
15
Subject
Taxes and Ecologically Sensitive Areas within Canada
Tags
Abstract
"Introduction
This Memorandum of Understanding (MOU) between the Government of Canada and the Government of the Province of New Brunswick is prepared in response to legislative changes to the federal Income Tax Act tabled in Parliament by the Minister of Finance on March 28th, 1996 and that received Royal Assent on June 20, 1996. The Minister of Finance has introduced these amendments to promote the donation of ecologically sensitive lands, covenants, easements and servitudes for conversation purposes. This extends income tax treatment of such gifts to a Canadian municipality or a qualified registered charity in a manner similar to that for such gifts to the Crown. This MOU outlines the responsibilities and commitments of the respective parties to this Memorandum."
This Memorandum of Understanding (MOU) between the Government of Canada and the Government of the Province of New Brunswick is prepared in response to legislative changes to the federal Income Tax Act tabled in Parliament by the Minister of Finance on March 28th, 1996 and that received Royal Assent on June 20, 1996. The Minister of Finance has introduced these amendments to promote the donation of ecologically sensitive lands, covenants, easements and servitudes for conversation purposes. This extends income tax treatment of such gifts to a Canadian municipality or a qualified registered charity in a manner similar to that for such gifts to the Crown. This MOU outlines the responsibilities and commitments of the respective parties to this Memorandum."
Description
This document reviews the implementation of changes to the Income Tax Act of Canada in regards the donating of ecologically sensitive lands.
Topics Include:
- Implementation principles
- Financial Commitments
- Signature Authorities
- Responsibilities of the Government of Canada
- Responsibilities of the Province of New Brunswick
- Duration
- Annex A (Definition of Ecologically Sensitive Lands, Tracking of Certificates Issued, Provisions for Quebec,
- Annex B (Qualified Registered Charities within the Province of New Brunswick)
- Annex C (NB Implementation Strategy Federal Land Conservation Initiative for Income Tax Concessions with Respect to Donation of Ecologically Sensitive Lands)
- Proposed Eligibility Criteria
Topics Include:
- Implementation principles
- Financial Commitments
- Signature Authorities
- Responsibilities of the Government of Canada
- Responsibilities of the Province of New Brunswick
- Duration
- Annex A (Definition of Ecologically Sensitive Lands, Tracking of Certificates Issued, Provisions for Quebec,
- Annex B (Qualified Registered Charities within the Province of New Brunswick)
- Annex C (NB Implementation Strategy Federal Land Conservation Initiative for Income Tax Concessions with Respect to Donation of Ecologically Sensitive Lands)
- Proposed Eligibility Criteria
Number of Copies
1
