Land + Property
Land, real estate and personal property are often major components of one's estate, making this type of donation a serious consideration when creating a will.
Real Estate
Support the U of A while potentially minimizing capital gains tax on the sale of the property. While there are many facets to making a gift of real estate, we will work with you and your advisors to ensure your gift reflects your goals and values.
You will receive a charitable tax receipt for the full fair market value of the property. If gifted during your lifetime, the tax credits can be claimed in the year of the donation or can be carried forward to offset tax during the subsequent five years. If the property is your principal residence, you will avoid being taxed on any capital gains. Gifting real estate is an opportunity to help transform the future of students, research or an area you're most passionate about — while realizing valuable tax benefits.
Benefits of making a gift of real estate
- Make a lasting gift to the U of A
- Donate all or part of your real estate as an immediate gift or through your will
- You choose what your gift supports
How it Works
A supporter gives real estate valued at $1 million to the U of A:
- Donor receives a tax receipt for $1 million.
- Donor receives a tax credit of $500,000. *
- The credit can reduce up to 75% of donor's taxable income (100% in year of death).
- If the donation is the donor's principal residence or ecologically sensitive land, there is no tax payable on the capital gain.
- For gifts of real estate that are not the donor's principal residence, 50% of the capital gain is taxed. However, the tax credit will likely exceed the tax on the capital gain tax, resulting in a net tax saving.
* Tax credit depends on donor's income and specific circumstances. We encourage seeking professional financial and tax planning advice.
Other Types of Property
Your books, artwork, archives or other materials of educational value could benefit students and researchers. The University of Alberta reviews all gifts of personal property to ensure they fit our educational mission, and considers accepting such gifts when funds are available to receive and maintain them. An appraiser will determine the fair market value of your gift and the university will issue you a tax receipt for that amount.
Already included the university in your will?
Have you already included the U of A in your estate plans and not yet told us about it? Thank you! We would love to hear from you and learn about the impact you plan to make at the University of Alberta.
Contact us today
Call 780.492.7400 or 1.888.799.9899 | Email giving@ualberta.ca
My husband, Jerry, had purchased some land for the family business. After he passed away from Alzheimer’s, I knew he'd want me to use that land to support Alzheimer’s research, so I donated it to the U of A in his memory. They'll sell it to raise money for their work in finding a treatment for the disease that took his life. What could be better?
Beryl Tell
