For Example:

A donor donates an art collection. The Alberta Society of Islamic Fellowship secures an appraisal and accepts the donation, valued at $50,000. The donor receives:

1. A $50,000 tax receipt.

2. A $25,000 tax credit, claimable for up to six years to reduce taxes owing. *

* Tax credit depends on donor's income and specific circumstances.

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Your books, artwork, archives or other materials of educational value could benefit students and researchers.

 

The Alberta Society of Islamic Fellowship reviews all gifts of personal property to ensure they fit our mission, vision, goals, principles, and values, 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 Alberta Society of Islamic Fellowship will issue you a tax receipt for that amount.

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That tax credit can be used to offset any capital gains tax assessed to you. Some gifts, such as paintings by select Canadian artists, may be classified as "cultural property" and are not subject to tax on the capital gains.