Finance committee  They have.

Finance committee  They're two different ideas, because in some cases the charity would be happy to receive the piece of property because they might use it for a school or for other activities, building a transition home for teenaged girls and that sort of thing. For others it might be more appropr

Finance committee  Yes, we actually do charitable remainder trusts right now. There is actually a trust agreement, and in a trust you separate who's entitled to the income and who is entitled to the capital. The trust agreement provides that the only entity entitled to the capital is the charity or

Finance committee  I understand, but I would dispute that characterization of it. The charity has to issue a donation tax receipt, so they're going to be very certain that they have full entitlement to the capital with no ability for that to be disbursed back. Under the act as it currently stands,

Finance committee  The other thing is that the way we're doing them right now, which is what would be, I imagine, the situation going forward, typically the trustee is a third party such as a trust corporation. It would have to be a very sophisticated charity that was willing to take on the legal

Finance committee  There were two mechanisms. One was just a direct transfer, and, generally speaking, the charity has the obligation to determine what the fair market value is, so the charity would be using appraisal mechanisms and that sort of thing.

Finance committee  The onus is on the charity. Under the act the charity has to ascertain the value of the receipt they are issuing. The other proposal we have is that if someone sells to any third-party purchaser and then donates the proceeds of the sale to charity, we're also saying they should

Finance committee  Merci. My name is Margaret Mason. I am a lawyer in Vancouver but I'm here representing the Canadian Association of Gift Planners, an organization that supports philanthropy by assisting donors with structured gifts. There are about 1,300 members from across Canada, the majority