Charitable giving is a very important activity that a vast majority of Canadians do on an annual basis.  In fact, according to Statistics Canada, in 2013, 82% of Canadians 15 years and older made donations to a charitable or non-profit organization.  This amounted to $12.8 billion in total donations.  66% of these donations were made by “primary donors” or the top 10% of individuals making donations.

The government helps fund social programs in health, education, and support for people in need. However, many people prefer to directly support specific causes or groups, such as community organizations that work with target populations, as well as religious groups, universities and colleges, medical research institutes, advocacy groups and political parties.

Over the last number of years, the government has made favourable changes to the tax rules related to charitable giving.  These changes virtually allow individuals to decide which social programs their tax dollars are allocated.

Making these gifts can be a very important and significant aspect of wealth management.  They can be one-time gifts or a series of donations.  They can be made while you are living or thru your Estate.

Planned giving means making a charitable gift that maximizes the benefit to the charity and also the tax and Estate planning benefits associated with the gift.

The tax rules associated with planned giving are complicated and require expert advice to ensure that they are done properly and provide the best value for all parties involved.

We can provide objective and independent advice that will be tailored to your situation. We can assist in determining your goals and then recommend strategies that maximize the effectiveness of your strategy.

These strategies include:

  • Cash Gifts
  • Gifts in kind
  • Bequests under a will
  • Gifts of permanent life insurance policies during your lifetime
  • Giving the proceeds of a life insurance policy on death
  • Charitable gift annuities
  • Charitable remainder trusts
  • Donor advised funds
  • Endowment funds
  • Charitable foundations
  • Wealth replacement insurance
  • Private company share donation with life insurance redeption plan