Donations : Tax tips

Charitable donations through leveraged donation programs

The Canada Revenue Agency (the Canadian income tax department) issued a press release on November 25, 2004 advising that it will reassess taxpayers who make charitable donations through leveraged donation programs. While CRA may not be correct in its analysis of the programs, any taxpayer who participates in such plans should do so knowing a CRA challenge will inevitably follow.

Disclaimer:
"This article provides information of a general nature only. It may no longer be current. It does not provide legal advice nor should it be relied upon. If you have specific legal questions you should consult a lawyer."