Conservation Lands Donation Tax Estimator
"What are the income tax implications
of donating a conservation easement
or a conservation land parcel in fee simple?"
That's a critical first question for landowners considering conserving the natural features of the land they own and steward. But it's complex, and specific to each individual landowner.
The Conservation Lands Donation Tax Estimator was created
to give landowners a preliminary sense of this question
This tool takes in basic information about a conservation land donation and returns realistic estimates of the taxable income, tax credits, taxes payable, and tax receipt carry forward
Use the Tax Estimator
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The Conservation Lands Donation Tax Estimator is a simplified Excel spreadsheet file, but you don't need to be an 'Excel user' to operate it!
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You will need Microsoft Excel to fully use the tool. Click 'Use the Tool' to open an online read-only copy.
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Once there, go to 'File | Create a Copy' and either 'Create a copy online' or 'Download a Copy'
About the Conservation Lands Donation Tax Estimator
FREE
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No charge (the Corvus Centre is a charity, and this project is funded by philanthropic dollars)
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No need to register, sign up, subscribe, etc.
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Just download the file
SIMPLE
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Download the Excel file
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Just enter six numbers, and answer four questions
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Outputs appear automatically
FLEXIBLE
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A single click can let you see the implications of:
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Conservation easement or fee simple donation
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EcoGift certification or not
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Qualified farm property or not
DYNAMIC
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Change the numbers or answers and the Estimator calculates new outputs on the fly
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Users can test different scenarios, and determine what is likely the best one for them
What the Tax Estimator Looks Like
Start Here Screen
Input Screen
Summary Screen
Results Screen
FAQs
Is the Tax Estimator comprehensive?
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Sort of ;-)
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Your tax situation is complex, and only your accountant or tax advisor can give you the full picture! This is just an 'Estimator'.
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The 'Start Here' tab in the spreadsheet file tells you what is included in the calculations and what is not.
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This gives you a 'ball park' so you can engage in discussions with your chosen land trust already having a basic sense of the tax implications
How does Tax Estimator work?
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The Conservation Lands Tax Estimator follows a simplified version of the standard Income Tax Package for an Albertan.
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Behind the scenes, your numbers are run through simplified versions of:
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T1 – Income Tax and Benefit Return
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Form AB428 – Alberta Tax and Credits
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T1 - Schedule 3 – Capital Gains or Losses
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T1 - Schedule 9 – Donations and Gifts
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Federal Worksheet
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Worksheet AB428 (Alberta)
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T1170 – Capital Gains of Gifts of Certain Capital Property
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T657 – Calculation of Capital Gains Deduction
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Does the Tax Estimator Work All Across Canada?
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Currently the Conservation Lands Tax Estimator is only coded for Alberta
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In reality, the numbers will be very similar for landowners in other provinces
Development and distribution of the Conservation Lands Donation Tax Estimator
was made possibly due to the generous support of
