Deeds of Covenant
A Deed of Covenant is a promise to give a fixed amount each year for at least five years. In Trinidad and Tobago it is the most tax-efficient way to support the Church over time.
How it works
You sign a deed naming the amount, the years and who it is for — the Appeal, your parish, a ministry or a project. The Chancery lodges it with the Board of Inland Revenue. Each year's payment is then receipted by the Chancery, which channels it to the beneficiary you named.
The tax benefit
Covenanted gifts are deductible from your chargeable income up to the limit the Income Tax Act allows for approved bodies. Your receipt from the Chancery is the evidence the Board of Inland Revenue asks for. Your own tax adviser can tell you what it is worth to you.
What happens next
- Tell us what you have in mind, below. Nothing is binding at this stage.
- The Appeal prepares the deed and sends it to you to sign.
- You return the signed deed; the Chancery lodges it.
- Once it is lodged, each year's payment goes through the Chancery and is receipted as covenanted.