Deed of Covenant for The Church
Doing A Deed of Covenant for The Church
One of the ways in which Parishioners can give money to the Anglican Church in the Diocese of Trinidad and Tobago is by doing a Deed of Covenant in favour of the Church.
Here is the way it works:
A Deed of Covenant is an agreement whereby one party (the Donor) promises to pay another party (the Donee) a certain sum of money. It may take the form of a single sum of money in any particular year, or a series of payments over a period of time spanning several years. It is more than a mere promise to pay. It is a pledge and can be enforced in law.
A Deed of Covenant is a win-win method for donating funds to the Church. It allows the Church to carry out its mission and you the Parishioner to honour your stewardship and tithing obligations. It also provides a financial benefit to you as the Donor since any sums paid under a Deed of Covenant up to 15 per cent of your total income in any one year is allowable as a deduction against your income for tax purposes.
A Deed of Covenant must be contracted with the Incorporated Trustees of the Anglican Church as the Donee (and not your Parish) since The Incorporated Trustees is the legal entity with charitable status to allow for your donation to be treated as a deduction for tax purposes.
However, you may direct the Diocese to channel your donation, in whole or in part, towards an activity at your Parish or other cause supported by the Diocese. Funds so received by the Diocese will be channelled according to the wishes of the Donor. For example: funds may be directed to Hayes Court Restoration; Holy Trinity Cathedral Restoration; Endowment Fund; general upkeep and maintenance of a specific (named) Parish or cemetery; training of clergy, etc.
How Do You Enter Into A Deed of Covenant?
It is a simple process in which the staff of the Diocesan Office is willing to assist. Forms are available from the Diocesan Office (see contact data to the bottom). They can also be downloaded from our here.
Simply follow the instructions below:
- Print three copies of the Deed of Covenant on legal size paper.
- Fill out the forms in triplicate in BLOCKED LETTERS and in black ink. Do not use any abbreviated form of your name or address. Any alterations must be initialled.
- Please ensure to insert your Board of Inland Revenue (BIR) file number on the Deed.
- Sign all three forms and have your signature witnessed. The witness must also write in his/her name, address and occupation.
- Send all three copies to the Diocesan Office. you may keep a copy for your files.
- We will complete the form as Donee and arrange for it to be stamped and approved by the Board of Inland Revenue. The stamp duty, a $2 per thousand dollars, will be collected by the Diocesan Office at the time of delivery of the Deed for processing. The amount of the pledge stated on the Deed must be paid before December 31 in each year for you to get the tax deduction. After approval is received, the Diocesan Office will send one of the approved originals to you for your files.
- A tax receipt will be issued for the sum paid for filing with your income tax return.
The Diocesan Office looks forward to processing your application. information, send an e-mail to the Diocesan Office at:
For further email@example.com
or call the Diocesan Office at 622-2863 or 622-7704
and ask for Allison Aaron or Petal-Dawn Hinkson.
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