Impact the lives of survivors for years to come through planned giving.

Tax Benefits

Most people don’t know that they are capable of leaving a larger gift in their estate than would have been possible in their lifetime, while offsetting the tax burden on beneficiaries.

Tax benefits for leaving a gift in your will:

At the time of your passing, your estate will be taxed on all income generating assets (RRSP’s, RRIF’s, income, etc). However, you can use charitable contributions to offset the payment due from your estate or your beneficiaries. 

Your estate or beneficiaries will also receive a tax receipt for the charitable gift, and can claim a tax credit for the full amount of your gift, up to 75% of net income. 

By using donation tax credits in this manner, you can offset the payments your beneficiaries will owe while contributing to causes you are supporting throughout your lifetime. 

Additional tax benefits for publicly traded securities:

If you gift securities to a registered charity, they are not subject to capital gains tax while also maintaining the tax credit benefit for your estate.

Value of Estate:
$500,000

Charitable Bequest:
$108,300

No Charitable Bequest

Tax Credit:
$49,550

Tax Owing:
$49,550

Left for Heirs:
$391,700

Left for Heirs:
$450,450

Heirs can claim this tax credit.

Heirs must pay this tax.

example scenario

*Donation tax credits vary from province to province. Ensure that you are clarifying specific tax questions with your financial advisor/legal counsel ahead of planning a legacy gift.

**All tax advice should be taken from legal and tax advisors, this is not meant to replace legacy planning advisor recommendations.