https://www.worldvision.ca/give-a-gift/planned-giving/Pages/planned-giving.aspx

megram - Index

megram - 55GTA - Index

a municipality in Canada or (under
proposed changes, for gifts made
after May 8, 2000) a municipal or
public body performing a function
of government in Canada the
United Nations and its related
agencies
a prescribed university outside
Canada
a charitable organization outside
Canada to which the Government
of Canada has made a donation in
the current or previous tax year
the Government of Canada, a
province, or a territory.
You can claim part or the entire
eligible amount of your gifts, up to the
limit of 75 per cent of your net
income for the year.
“I gave securities because it’s a much
more tax-favourable way to donate.
And I strongly believe in the work
World Vision does on behalf of the
poor and disadvantaged of the world.”
—Michael Hayhoe
Investment Advisor
Kitchener, Ontario
Securities: A new tax-free way
to give…and receive
Donors receive immediate and significant tax benefits
when they donate securities to World Vision. And you
get a tax receipt for the fair market value of your
donation.
Your Stock in the Future
There are now tax incentives for
donating gifts of appreciated stock
or mutual funds to charities. You
may save on capital gains taxes by
donating your securities directly to
a charity. Act now! Talk to your
broker or financial advisor about
making a donation of securities to
World Vision Canada today.
Gifts of Securities
➤ An easy way to give
a substantial gift
➤ Pay no capital
gains tax
➤ Receive a tax receipt
for your donation
➤ Direct your gift to
a specific program
➤ Have a greater
impact on causes
closest to your heart
Call 1 800 714-3280 ext.3837
Email plannedgiving@WorldVision.ca
September 2008 • 46 • Fifty-Five Plus Magazine
Tax incentives and guidelines
You receive a 15.5 per cent federal
tax credit for the first $200 you
donate. In addition, each province
provides a provincial donation tax
credit. For example, the Ontario
provincial credit is 9.44 per cent for a
combined total credit of roughly 25
per cent. In other words, if you live in
Ontario, you would be entitled to
about $50 back from the first $200 of
your yearly donations. Once you have
donated at least $200 in any year, the
donation credit jumps to 29 per cent
federally, and 17.41 per cent for
Ontario. Therefore, for donations in
excess of the first $200, you’d get
back a minimum of 46 per cent of the
amount you donate.
The cumulative donation amount
you can use is limited to 75 per cent of
your net income. Amounts over this
limit can be carried forward five years.
The cumulative donation amount
increases to 100 per cent in the year of
death and the year preceding death.
Donation considerations
Ask yourself:
What dreams for your community
you would like to help come true?
What charity or charities would
you like to benefit?
Make sure that the charity or
organization has a Canada Revenue
Agency (CRA) charitable registration
number; otherwise, it can’t
issue a valid tax receipt.
Do you want to provide a gift as
part of your financial/estate plan?
Do you want to make a gift while
you are living and/or leave a legacy
at death?
What assets are available to you to
donate to a charity? (e.g., RRSPs,
flow-through shares, property, publicly
traded securities,cash or other
capital).
Donating cash: it’s easy to do
Donating cash is the most common
way to donate to the cause of your
choice and it has many advantages:
continues on page 48