Donation/Gift definition
Donation/Gift. : means a voluntary transfer of tangible property, including cash, or a transfer in-kind of tangible property, other than cash. The donation has to be valued at Fair Market Value and the net amount of a donation is calculated from this value less any advantage or benefit received or to be received as a result of the donation. A donation tax receipt may be issued. Donations do not involve a business relationship and are distinct from sponsorship and/or advertising initiatives.