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Tax Shelters & Tax Schemes

In brief, a tax shelter is a method of reducing taxable income either through a gifting arrangement or through the acquisition of property.These arrangements typically promise participants tax savings greater than the cost of participation in the plan, thus allowing donors to “profit” from donating to a charity. In many cases, promoters and participants of these arrangements take advantage of a registered charity’s receipting privileges for their own private gain, while generous donors and representatives of legitimate charities find themselves entangled in a complex scheme. Registered charities should be aware that participating in such arrangements can jeopardize their charitable status or expose them to monetary penalties. 

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