Canada's Ecological Gifts Program offers tax benefits to Canadians who donate ecologically sensitive land or a partial interest in such land to a qualified recipient. The Minister of the Environment must certify the land, approve the recipient that receives the gift, and certify the fair market value of the donation.

According to Environment Canada, hundreds of Canadians have made more than 1,000 ecological gifts valued at over $635 million. More than one third of the donations represent lands of national, provincial or regional importance, and many include rare or threatened habitats that are home to species at risk.

Land (including a covenant, an easement or a real servitude to which land is subject) qualifies if it is donated to a qualified recipient, and it has been certified by the Minister of the Environment to be land the conservation and protection of which is important to the preservation of Canada's environmental heritage.

Qualified recipients are the federal, provincial and territorial governments, Canadian municipalities, municipal or public bodies that perform a function of government, and eligible environmental charities. An eligible environmental charity is a registered charity that has, in the opinion of the Minister of the Environment, the conservation and protection of Canada's environmental heritage as one of its main purposes.

For donations made after February 10, 2014, the budget proposed to extend the carry-forward period from 5 to 10 years for the unclaimed portion of the eligible amount of gifts of ecologically sensitive land.

No, capital gains associated with the donation of ecologically sensitive land continue to be exempt from tax.

The CRA is committed to providing taxpayers with up-to-date information. The CRA encourages taxpayers to check its Web pages often. All new forms, policies, and guidelines will be posted as they become available.

In the meantime, please consult the Department of Finance Canada's Budget 2014 documents for details.