Program Summary:

This presentation provides an overview of flow through share donation tax shelters, and some of the key issues that donors and charities would need to be aware of concerning this type of tax shelter as well as the status of draft legislative amendments to curtain tax shelter donation arrangements.

Learning Objectives:

This presentation reviews the status of draft legislative amendments to curtail tax shelter donation arrangements, including:

• buy-low donate-high arrangements,
• leveraged cash donations,
• gifting trust arrangements,
• the consequences of non-compliance with the proposed changes, and
• their impact on those involved in donation tax shelters, including gift planners, taxpayers, promoters, advisors, appraisers, and charities.

About the Presenters:

Terrance Carter practices at Carters Professional Corporation in the area of charity and not-for-profit law and is counsel to and affiliated with Fasken Martineau DuMoulin LLP. Member of the Technical Issues Committee advising Canada Revenue Agency, a past member of Canada Revenue Agency's Charity Advisory Committee and past Chair of the National Charity and Not-for-Profit Section of the Canadian Bar Association, a past member of the Uniform Law Conference of Canada Task Force on Uniform Fundraising Legislation, and has been recognized as one of the leading experts in the area of charity, trust and not-for-profit law in Canada by Lexpert and The Best Lawyers in Canada. Frequent writer and speaker in the area of charity and not-for-profit law. Co-editor of Charities Legislation & Commentary, 2007 Edition, contributing author to Industry Canada's Primer for Directors of Not-For-Profit Corporations, and The Management of Charitable and Not-for-Profit Organizations in Canada, and co-author of Branding & Trade-Marks Handbook for Charitable and Not-For-Profit Organizations, and editor of www.charitylaw.ca, www.churchlaw.ca and www.antiterrorism.ca.

Theresa L.M. Man joined Carters in 2001, becoming a partner in 2006, to practice in the area of charity and not-for-profit law, with particular emphasis regarding tax issues. On the executive of the Charity and Not-for-Profit Section of both the Ontario Bar Association and the Canadian Bar Association, is a member of the Taxation Section of the Ontario Bar Association, is a member of the Canadian Tax Foundation, and has been actively involved with numerous charities, either as a legal advisor or as a member of the board of directors. Currently pursuing her LL.M. in tax law, and has been a speaker at various seminars, including the Annual Church & Charity Law™ Seminar and seminars hosted by the Canadian Bar Association and the Ontario Tax Foundation, among others. She has also written on charity and taxation issues for various publications, including The Lawyers Weekly, The Philanthropist, Planned Giving Pulse, International Journal of Civil Society Law, The Bottom Line, Canadian Fundraiser eNews, and Charity Law Bulletin.

Participation in a live session or use of an audio recording of the program qualifies for 1.5 points toward CFRE education requirements.