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.