www.carters.ca
www.charitylaw.ca
a)Common Forms Of Abusive Donation Tax Shelters
1)Buy-low
Donate-high Tax Shelters – The Classic
–A
typical scenario would involve a taxpayer
§Purchasing
property for a low price
§Donating
the property to a charity, usually pre-arranged by the promoter
§Receiving a donation tax receipt in an amount purported
to be the FMV of the donated property that is substantially greater
than the price paid by the taxpayer
–The
FMV of the donated property is usually supported by an appraisal,
(usually arranged by the promoter)
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