Charitable donation appraisal

Charity Donation

 

CRA recommends that if a donation of a non-cash (in-kind) item is being made to a Canadian registered charity and it is worth more than $1000 that it be appraised by a knowledgeable, qualified and independent third party appraiser. For donations of in-kind goods of less than $1000 CRA suggests a “qualified staff member” can appraise the gift.  I would suggest that if you are trying to determine the fair market value of certain items that even if the items are worth less than a $1000 it is a good idea to get a proper appraisal – for example items that have been commonly abused such as art or bulk purchases.