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Frequently Asked Questions


Question What about the Tax Shelter advocacy organization?
Answer  

Some donors have received communications from a “not for profit” entity that claims to be a tax shelter advocacy organization.

We find it peculiar that an advocacy group would heavily endorse any “for profit” private company, let alone just one. It is our belief that their role is to act as a marketing arm for a specific offshore pharmaceutical vendor. We believe there is an economic relationship between the Advocacy Group’s directors, officers and committee members, and the pharmaceutical vendor.

The advocacy group has posted false and misleading information on its website concerning MLF. We believe that the information, as posted, is to discredit MLF and gain trust with donors with the ultimate purpose of getting donors to purchase pharmaceuticals from the pharmaceutical vendor. Among other things, they have represented that “no donor will receive a net refund”. This statement is false. Currently, there are 1,611 MLF participants who have more interest on account than the amount required to finalize their program participation. These participants will receive net interest refunds once they finalize their program participation.

With regards to their defamatory communications, note that we have thoroughly reviewed all of our offerings with our advisors and continue to do so on a regular basis. At this point we are investigating all legal remedies.

     
Question Acceptance criteria for pharmaceuticals purchased from an unauthorized vendor
Answer  
  1. Provide a qualified third party Certificate of Analysis for the batch of pharmaceuticals from which your purchase was manufactured, indicating that your pharmaceuticals are of a pharmacologically identical type and quality. This should be available from your pharmaceutical vendor. In the absence of this, you may obtain your own Certificate of Analysis from a qualified third party stating the same.

    In the absence of a third party certificate of analysis, LogiPharm, at its own expense, with the cooperation of your vendor, will arrange for its own third party laboratory analysis. This will occur in the country where manufactured, prior to being shipped. LogiPharm will use a recognized laboratory and will share its findings with the owner of the pharmaceuticals.


  2. You must pay for your own Custom’s clearance into Bond and all associated shipping, warehousing costs, etc. Your pharmaceutical vendor may have included these costs in your purchase price.

  3. Your pharmaceuticals must be clearly labelled and identified as yours, including your full name, address, and MLF credit certificate/invoice number.

  4. To minimize your shipping and storage costs with your shipping and Customs agent, one week advance notification of your delivery should be provided to Southern Cross and LogiPharm Distributing Inc.
    With your advance notification, you must include:
    1. A detailed Packing List, clearly describing the contents
    2. Your Purchase Invoice from your unauthorized vendor
    3. Bill of Lading confirming shipment
    4. Certificate of Analysis from a qualified third party
  5. These documents are required for Customs clearance purposes and will most likely be supplied by your pharmaceutical vendor.

  6. All pharmaceuticals must have an expiration date of no less than six months and one day after the date of acceptance.

Upon receipt of your pharmaceuticals, your individual purchase will be inspected to verify accuracy.

Information subject to change.

     
Question What does "gift in-kind" mean?
Answer   A gift in-kind means a gift in a form other than cash.
     
Question Is there a limit to my participation?
Answer   No. There is no limit to the amount of medicine you can purchase & donate. However, in any given year, a donor may receive tax credits resulting from donations of up to 75% of their income. If you donate more than 75% in any given year, you may carry the leftover tax credits forward up to 5 years.
     
Question What is the amount I should see on my donation receipts?
Answer   The amounts on the receipts from the charity will be based on the amount you paid for the pharmaceuticals and subsequently donated. The receipt for the 3% cash donation will be 20% of the amount donated.
     
Question Can I donate the medicines I purchase to a charity of my choice?
Answer   Yes. We ask donors who wish to participate in the program to choose ahead of time to donate the medicine kits they purchase to the charity if they wish to participate in the MissionLife Financial initiative. If they do not wish to donate the medicine kits to the charity, then we ask that they do not participate in the MissionLife Financial program. In order for MissionLife Financial Inc. (MissionLife)to maintain the integrity of its program, it only works with charities that have been thoroughly scrutinized and have passed an extensive process of due diligence. MissionLife has based all legal opinions relating to the donation program on working with the specific charities that have been selected for meeting the highest standards of operational effectiveness.
     
Question How do I report my donations on my tax return?
Answer   Please do NOT e-file your tax return if you have participated in the MissionLife Financial program â�� PAPER FILE ONLY. When filing your taxes, ensure that you keep a copy of all paperwork that you receive from MissionLife. You will need to submit your tax calculations, your donation receipts, and your T5003 form which will be sent from MissionLife in time to file your taxes.
     
Question What happens if the Canada Revenue Agency (CRA) chooses to perform an audit on my participation in the program?
Answer   In fact, it is certain that the CRA will perform an audit. However, it will be confined to an audit of your participation in the tax shelter only. MissionLife will be there to assist you in the steps you should take to deal with the audit. A legal defense fund is in place to fully defend any CRA challenge.
     
Question Who and where do I call if I have any questions about the program and its processes?
Answer   Call MissionLife directly at 1.888.630.5771, or to email them at info@missionlifefinancial.com
     
 

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TAX SHELTER ID#: TS074385. Quebec Tax Shelter ID#: QAF-09-01308. The identification number issued for this tax shelter shall be included in any income tax return filed by the purchaser and/or donor. Issuance of the identification number is for administrative purposes only and does not in any way confirm the entitlement of a purchaser and/or donor to claim any tax benefits associated with the tax shelter.