BMO Harris Private Banking has released the findings of its Second Annual Philanthropy Report, which found that the number of Canadians giving to charitable causes – and the amount they are giving – is rising.
The Canada Revenue Agency (CRA) is revoking the charitable registration of two Toronto-area charities, effective November 10, 2012.
Donate flow-through shares and reduce the after-tax cost of giving
Executors should tell charities about any gifts or bequests.
Would-be philanthropists often find themselves confronted with a common paradox: the larger the value of their gift, the less likely they are to feel certain about the charitable beneficiaries. Often the best solution is a donor-guided “intermediate charity” such as a donor-advised fund.
Lessons learned from the mishandling of miner Paul Penna’s multi-million dollar bequest
Do your clients give to charity? As financial markets improve, they may be more willing to open their hearts and wallets.
The income tax act provides that a charitable gift gives rise to a donation tax credit in the calendar year in which the gift was made. And, to the extent the donation tax credit is not claimed in that year, it may be carried forward and claimed in any of the donor’s five succeeding taxation years.
If your clients are charitably inclined, help them explore local community foundations for a wealth of opportunities
Your clients may think trusts are just for the rich or for those with complex affairs. But this is not the case. So, here are some tips on how to use them.