Gifts of Real Estate Property
Making a gift of real estate property can have a significant impact on the future of health care in your community. You are helping your loved ones, your friends, your neighbours and your colleagues. You are a driver of health and prosperity. You are creating a life of good health for future generations.
Appreciated land property that is not a principal residence will attract capital gains tax when it is sold. Donors have the opportunity to give all or part of a property to Richmond Hospital Foundation and offset the capital gains through the charitable tax receipt. The charitable tax receipt can also be used to offset tax otherwise owing.
Prior to accepting the gift and issuing a receipt for income tax purposes by Richmond Hospital Foundation, a donor must obtain a professional appraisal completed by a qualified third party appraiser to determine the fair market value of the property.
Disclaimer: The above information is general in nature and should not be construed as legal or tax advice. We encourage you to work with your professional financial and legal advisors to make the best decision for your particular circumstances when making a planned gift.
Legal Name: Richmond Hospital Foundation
Address: 7000 Westminster Highway, Richmond BC, Canada V6X 2A1
Registered Charity Number: 11911 8883 RR0001
At Richmond Hospital Foundation, joy is at the very heart of the work we do and our accomplishments are made possible because of individuals, families and community organizations like you. Your donation makes a significant impact at Richmond Hospital and throughout our community of care in Richmond.