I have recently been offered to participate in a plan where I would invest in flow-through shares of a gold exploration company, publicly traded on the TSX, and proceed to donate the shares immediately. I would therefore benefit from both the deductions for exploration costs and the donation tax credits. The net cost to me would be approximately 4% of my initial investment.

Has anyone participated in such tax shelters? Did it withstand a CRA audit?

Cheers,

Allan