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Your Finance
By Sheldon Rice, CIM, FCSI
In today’s world of government cutbacks, the amount of
public money going to charitable organizations has
been painfully reduced. This reduction has been compounded
by an increase in demand for charitable services,
highlighting the need for additional funding. In response,
individuals, organizations and corporations are stepping
forward to help fill the funding void.
Fortunately, the government has provided a number of
tax incentives designed to encourage Canadians to give
back to their communities. Changes to Canadian tax laws
now ensure that there has never been a better time to give.
In this article, we will look at the basics of charitable giving
and how you, as a donor, can make the most of your gifts.
Gift Planning 101
How does the Queen’s Gift Annuity Program Work?
You contribute
Cash
Securities
Shares
General Endowment Fund
Queen’s greatest priorities /
Student Financial Assistance /
The Queen's Centre
The Joy of
Giving and
Receiving
You receive
Queen’s receives
Remaining capital
Student
Aid
Win-win strategies for charitable giving
The Queen’s Charitable Gift Annuity
Tax-favourable
guaranteed income
Named Family Fund
Faculty highest
priority needs
Student
initiatives
fund
Ban Righ
Centre
Your
choice
Call the Office of Planned Giving at 1-800-267-7837 for a confidential discussion on how you can
make a gift that reflects your values.
September 2008 • 45 • Fifty-Five Plus Magazine
But at the same time, always keep in mind that a charitable
giving strategy is just one component of your comprehensive
financial plan. You must still be able to meet other
objectives,such as your requirement for retirement income.
What is a qualified charity?
You can claim a tax credit based on the eligible amount
(see tax incentives on page 49) of the gift you give to a
qualified charity.A qualified charity generally includes:
a registered Canadian charity
a registered Canadian amateur athletic association
a Canadian tax-exempt housing corporation that only
provides low-cost housing for seniors