Legacy Bequests of Land
Legacy Housing Land Trust helps make housing affordable by assembling land and making it available to community based housing organizations. By working together with others we help families own their own home.
The Legacy Housing Land Trust is a Registered Canadian Charity that provides land for low and moderate priced housing. We acquire and assemble land and make it available to other organizations and co-operatives to build housing. The objective is to support individual private ownership of homes on the land we hold in trust usually for ninety-nine years.
How We Acquire Land
That’s where you come in. We depend on donations of land and other assets that we sell to finance land purchases. These donations or grants can come from Government or the Public, Private Donors, or Foundations.
What’s in it for You
There can be significant value to you and your family to manage your financial affairs so you take full advantage of provision in the tax laws that allow you to minimize the income tax you pay. Some of these tax saving provisions have been created to encourage donations to registered charities.
You get to decide where those assets you acquired over your life time go. Without suitable steps, up to 48% of your wealth will be paid as income taxes to the Canadian Revenue Agency (CRA). You may be able to avoid that 48% tax hit by making the right charitable donations to a Victoria based charity. Legislation allows for the waiver of capital gains on land and on shares held in a Canadian Corporation. You or your estate still get a full tax deduction for the actually value of your donated assets. You can provide a significant benefit to your community while at the same time ensuring your heirs and beneficiaries received the significant benefits you wish them to have. With minimal cost to you and your family, you are in a position to provide a long lasting legacy to your community.
The Legacy Housing Land Trust can leverage the real value of your tax deductible donation to receive government and other funding that is available to a registered charity. You and your family will have the satisfaction that your wishes are well taken care off while at the same time contributing to family home ownership. It is important to you and your family to be fully informed on your options and for you to do some financial planning to ensure the outcome you want.
For more information, please contact us!