Gifts & Donations

Custom gifts are donations of cash, services or equipment to complete a specific project or park purchase. These gifts can be of any amount and could include a community group constructing a viewing stand, a business providing services "in-kind," or a donation of cash to assist with a service, land purchase or construction project.

The CVRD can issue a tax-deductable receipt for these kinds of gifts (except for "in-kind" services).

Email to learn more.

Distinctive gifts may be used as a strategy to offset capital gains taxes and other liabilities payable to the estate at death. When an individual dies, all of his or her assets contribute to the total value of the estate. Estate taxes can be eliminated entirely on assets that are given to charitable causes such as the CVRD’s parks and greenways system.

Distinctive gifts could include:

• securities
• beneficiary designations
• bequests
• eco-gifts
• life estate

Email to learn more.

Instead of selling your securities (stocks, bonds, or mutual funds) which trigger capital gains taxes, you may instead donate them directly to the CVRD.  In return, you receive tax credits based on the value of the securities donated. Email to learn more or discuss a donation.

This gifting option is best suited to those who are wishing to reduce the taxes payable on their estate, as it acts as an effective tool for keeping assets outside of probate. Naming the CVRD as a beneficiary is also an excellent option for those who want to leave a large gift. A gift of an insurance payout, for example, generates a donation that may be many times the amount paid in premiums, for which you receive tax credits.

Consider naming the CVRD as the beneficiary on items such as:

• Tax-free savings accounts (TFSAs)
• Registered Retirement Savings Plans (RRSPs)
• Registered Retirement Income Funds (RRIFs)
• Life insurance policies

Upon your death, the CVRD will receive an immediate donation equal to the cash value of the beneficiary item. The CVRD will issue a tax receipt to your estate for the value of the gift received. For life insurance policies, you also receive annual donation receipts for the premiums that you pay for keeping the policy in force after naming the CVRD as a beneficiary.

If you choose this option, be sure to use the correct name for the regional district: Comox Valley Regional District. Email to learn more or discuss a donation.

You may use your will to leave a natural legacy – simply choose to bequest the CVRD specific items, a portion of the value of your estate or the residue of your estate. When you make a bequest, a tax receipt is given for the full amount of your donation and can be claimed on your final tax return. Any unused credit can be carried back one year and applied to taxes owing to obtain a tax refund for your estate.

Many people choose not to bequest a stated sum of money, but rather to leave a share of the residue of their estate. This is because, unlike most other donations in wills, its value will not be affected by inflation.

You can instruct the CVRD to use bequeathed funds for only a specific purpose or, alternatively, you can instruct us to use our discretion. We urge you to speak with the CVRD about designating your gift to ensure that we will be able to fulfill your wishes. Email to learn more or discuss a donation. 

Comox Valley Parks Hero: Meet Ruth Masters

For landowners who wish to donate their land, or an interest in their property, to the CVRD, the Ecological Gifts program may be of interest. As properties donated to the CVRD under the program can never be mortgaged or re-sold, you can be confident that your land will be protected forever. Your donations may also generate tax benefits under this program.

As a donor, you will receive a tax receipt for the full value of your ecological gift. This tax receipt can be applied against 100 per cent of your net annual income. Corporate donors may deduct the amount directly, while individual donors can use it to calculate a non-refundable tax credit. Any unused portion of the tax receipt may be carried forward for up to five years. None of the capital gain from the transfer of the property is taxable (instead of the usual 50 per cent).

To qualify for these tax benefits, land being donated must be considered ecologically sensitive – land that either currently contributes or has potential to contribute to Canada's biodiversity or environmental heritage. Property that provides habitat or has ecological value will be considered, as will properties with extensive restoration plans.

Environment Canada administers the Ecological Gifts program in partnership with local governments such as the Comox Valley Regional District. If you are thinking of making an ecological gift, you should seek independent tax and legal advice before doing so. For more information visit the Environment Canada Ecological Gift Program or Email to learn more or discuss a donation. 

Comox Valley Parks Heroes: Meet Brian and Sarah McLoughlin

By donating a life estate to the regional district, you (and perhaps your children) retain the right to remain on your property for the remainder of your lives. Once you are no longer living on the property, it will transfer to the regional district for a park. Usually, a life estate involves certain restrictions on your use of the property. A life estate may contain some tax benefits depending on the value of the property and the length of time you will remain on the property. Email to learn more or discuss a donation.

A charitable gift annuity allows you to donate a lump sum to the regional district. In return, you receive both a charitable receipt and guaranteed income (either for the rest of your life or for a stated period of time).

How they work:

The CVRD retains 25-30% of the amount you give to support our work-- or as an endowment, whichever you prefer-- for which you receive a charitable receipt. The balance is then used to buy an annuity from a life insurance company which works to produce the income you will receive.

Who is best suited for a Gift Annuity?

Individuals 65 years and older, who may want: 

• the security that guaranteed payments from gift annuities offer
•  the benefit of the after-tax rates of return that annuities provide, which are significantly better than GIC's and Canada Savings Bonds
• the immediate tax benefits of a donation

Email to learn more or discuss a donation.

Receive a donation tax credit now, without losing the income that your assets produce, for a gift that the CVRD will receive upon your death (or the death of your spouse).

How does a Charitable Remainder Trust work?

Cash, investments, or properties left to the CVRD are transferred to a trust. You continue to receive income from the trust for as long as you or your spouse live. Upon your death, or the death of a surviving spouse, the capital or property in the trust goes directly to the CVRD without going through probate.

Who is best suited for a Charitable Remainder Trust?

The effectiveness of this type of gifting depends on your age, potential capital growth and ongoing set-up and administrative fees. In general, charitable remainder trusts are useful for:

• Anyone wishing to receive a donation tax credit now, without giving up the income from assets transferred to the trust
• Anyone who wishes to avoid probate fees related to the administration of and estate

Email to learn more or discuss a donation. 

Important

The information provided above is general in nature and not intended to be a substitute for professional legal or financial planning advice. The CVRD encourages anyone planning a significant gift to seek independent legal and financial planning advice.

Custom and distinctive gifts may be recognized by the CVRD in the following ways: in our annual report, on our website, through a certificate from the board chair, at a special event or, if it's a significant land donation, through the naming of a trail or facility. Donations received from individuals, businesses and other organizations help us create a legacy of special places. The CVRD extends a heartfelt thanks to these community-minded donors.

Thank you Clark Munro for the donation in 2022 towards the picnic tables on Marine Drive at the Royston Seaside Trail in memory of Elizabeth (Bunny) Shannon, a builder of the community.

Contributors from previous years:

Park Benches

• Seal Bay Park
  • Christine Welch for Ron Welch's 90th birthday
  • Cam Hope and Joanne White in memory of Bev & Doug Hope
  • JoAnne McLeod and family for Murray McLeod's 80th birthday
• Royston Seaside Trail
  • Pamela and Andrea Wilson in memory of Gary Wilson
  • Marilyn Clements, Barbara MacKenzie and Pamela Wylie in memory of their parents Rosina and Leslie Ball
  • Brenda Telfer in memory of Bob and Vera Tefler
• Nymph Falls
  • Pat Bell in memory of his wife Lene Michelle Curts
  • Gwen Rypien in celebration of John Rypien
  • Ekatarina Panayotof in memory of Tatko and Dora

• Wendy Wallace in memory of your son Mike Wallace at the Exhibition Grounds

Picnic Table at Goose Spit Park

• Karen and David McKenzie in memory of their mother, Jean Turner

Cash Donations to Seal Bay Park

• In memory of Maureen Coupland:
  • Sally Anton, Colleen and Jim Malek, Monica Blais and Aaron Welch, all of Courtenay
  • Joyce and Robert Kouris, Glenda Brown and Dayna Denley all of North Bay
  • Pat and Anthony Welch, and Marlyn Newell of Huntsville
  • Edna and Boyd Welch of Omemee, Ontario
• And a very generous custom gift by Carolyn Coffin of Courtenay