Today Finance Minister Jim Flaherty introduced the Canadian Federal Budget 2014. The budget had a large number of provisions dealing with non-profits and charities. Here are some excerpts from the Federal Budget in one PDF document. Overall I was…
The Globe and Mail recently had an article which discusses the concept of perpetual endowments as well as the use of donor advised funds and bequests. Read article > Here is also another article in the Chronicle of Philanthropy dealing with…
In this article I discuss the importance of Canadian charities involving professional advisors in their planned giving efforts. Planned Giving and Professional Advisors – The Why and How to Involve Professional Advisors in Canadian charities
In this article I provide some suggestions to charities in Canada as to how they can easily start a planned giving program for their charity. Starting a Basic Planned Giving Program for a Canadian Charity – A Lawyer’s Perspective
In this article I discuss different planned giving vehicles in Canada. What is planned giving?
In this article I discuss different planned giving vehicles in Canada. Download Article
In this article I provide some suggestions to charities in Canada as to how they can easily start a planned giving program for their charity. Download Article
In this article I discuss the importance of Canadian charities involving professional advisors in their planned giving efforts. Download Article
The CRA has just released its new process for recognizing “municipal or public bodies performing a function of government in Canada”. Here is a PDF OF THE ARTICLE This will be of particular interest to Aboriginal bands, school boards and…
Here is a letter from CRA in French on charitable remainder trusts. According to the summary the letter discusses “1) Whether the gift of an interest in a trust will give rise to a tax credit pursuant to subsection 118.1(3)?…
On June 5, 2013, Trevor Clark and myself will be delivering the “Planned Giving Institute” for AFP Toronto’s Fundraising Day. Here is a brief description of the 3 hour presentation: Planned Giving Institute: Program and Development Wednesday, June 5, 2013…
Today the House of Commons Standing Committee on Finance (FINA) released its much anticipated report on Tax Incentives for Charitable Giving in Canada. The report discuss “Charitable Donations and Donors in Canada”, “The Regulation of Charities”, “Tax Incentives and their…
The CRA recently sent a letter discussing the tax implications of a donor making a gift of a newly acquired life insurance policy to a registered charity. Here is a copy of the text in PDF of the CRA letter…
Here is a CRA letter which discusses the dates and value to be used on official donation receipts for a bequest under will. Here is the CRA letter: “PRINCIPAL ISSUES: Clarification regarding the dates and value to be used on…
I am looking forward to giving a presentation with Lois Fleming of The Salvation Army on “Where do I start when leaving a legacy to a charity?”. This presentation is part of the CAGP Toronto Leave a Legacy Community Outreach…
It is pretty obvious that Canadian charities, whether operating in Canada or outside of Canada, cannot directly or indirectly support terrorism. Canada has anti-terrorism legislation and charities should due due diligence before transfering assets to non-profits and other entities both…
I will be co-presenting for Canadian Association of Gift Planners Greater Toronto Area RoundTable on June 13th at 1:30 – 3:00 p.m. on “You Don’t Need to be Rich to be a Philanthropist: Making an impact with your charitable giving”…
Here is a recent CRA letter dealing with “If, as a consequence of a gift, a charity holds a beneficial interest in an alter ego trust, will the restriction in subsection 118.1(13) apply in respect of the gift?” LANGIND E…
Here is a letter from CRA in response to a question about valuing a life insurance policy when it is transferred from a non-arm’s length person to a donor and subsequently gifted to a qualified donee. It deals with the…
This CRA letter deals with “Whether, in a subsequent year, a taxpayer can claim charitable donations previously reported and carried forward on a spouse or common law partner’s personal tax return.” CRA’s position is yes. “REASONS: The CRA’s administrative practice…
I will be one of the presenters at an upcoming PFC program called Global Giving – Possibilities and Pitfalls. PFC 2010 Professional Development Sessions 555 René Lévesque Blvd. West Suite 900 Montreal, QC H2Z 1B1 T. 514.866.5446 F. 514.866.5846 www.pfc.ca…
In this letter CRA discusses “Whether the adjusted cost basis is a reasonable proxy for “cost” of an interest in a life insurance policy in applying the deeming provisions of 248(35) with respect to a gift to a qualified donee…
Here is an article by FLA Group entitled “Legacy Marketing Overview March 2010” The article has some interesting statistics and thoughts on the importance of encouraging bequest giving. I agree that Canadian charities do not spend enough time doing this…
The CRA recently discussed “Whether in the particular circumstances, financial assistance provided by an employer to its employees’ extended families in the XXXXX who were directly affected by the hurricanes and typhoons in XXXXX, would be taxable to the employees.” …