There are more ways to give than writing a cheque
When you give a gift, don’t you often feel warm-hearted and cheerful knowing how much it’s appreciated? When your gift is a charitable donation, you get the same feeling because you know your gift is making a real difference for your church or community.
Of course you can always write a cheque, but did you know that you may be able receive a larger tax benefit by giving in other ways? These options may seem difficult to understand at first, but your Anglican Foundation is here to help you find tax-efficient ways to give, tailored to your circumstances.
When choosing to give, one size does not fit all. The Anglican Foundation of Canada has created a helpful, new booklet for you to explore these options for giving.
Download: Create your legacy: Tax-efficient options for your charitable givings
Tax-efficient options for your charitable givings
Appreciated Securities
If you have made significant capital gains from stock purchases, you may be faced with large tax burdens when you sell them. By donating those stocks to the Anglican Foundation, your charitable objectives can be addressed and your tax burden reduced. Recent changes in tax law will make this type of gift an attractive one to you as a donor.
A Life Insurance Policy
Life insurance may allow you to make a larger gift than you might otherwise be able to make. You can assign a paid-up policy of which you have no further need, or obtain a new policy, and name the Anglican Foundation as beneficiary. By assigning ownership to AFC, you receive a tax credit for the cash surrender value and all future premiums. Naming AFC as your beneficiary will give tax benefits to your estate.
A Charitable Gift Annuity
If you donate cash or assets to AFC, you can receive a partial tax deduction, and AFC will pay you a percentage of your gift’s value and investment income annually for the rest of your life.
The Anglican Foundation is here to help!
To order print copies, please email Sharon Sorenson or call 416-924-9199 ext. 244.
