WIN-WIN: CREATING YOUR CUSTOMIZED CHARITABLE GIVING STRATEGY WHILE REDUCING TAXES 

May 2014

     

You’ve worked closely with your Richardson GMP Investment Advisor to reach your personal investment goals. Now, we can help you achieve your dream of making a difference.

Whether you wish to support the arts, conserve natural resources, advance medical research or help the world’s underprivileged children for example, giving back speaks volumes about you and the values that are important to your family. Did you know that there are several ways you can achieve your dream of making a difference with the added benefit of reducing taxes?

Richardson GMP will help ensure your gift complements your overall wealth management goals while supporting your cause in a way that is effective and lasting.

Tax efficient solutions to creating an integrated and strategic approach to your philanthropic plan

As part of your tax-efficient charitable giving strategy, donations can be made through gifts of cash, life insurance, or other types of property, either during your lifetime or upon your death. As well, donating certain stocks and securities to charities could provide another opportunity to significantly reduce your taxes. If you sell investments that have appreciated in value, you will normally realize a capital gain and 50% of the gain would be subject to tax. However, Canadians who donate certain capital property to their favourite charity pay no capital gains tax and receive a tax credit for the fair market value of the donated property. Therefore, you will realize greater tax savings by donating these investments directly to the charity as opposed to selling these investments and donating the cash proceeds.

Interested in leaving a legacy for your family or providing ongoing funding to a charity over time?

Consider a Donor Advised Fund through the Richardson GMP Charitable Giving Program. It’s like having your own charitable foundation.

The Richardson GMP Charitable Giving Program delivers fully customized giving programs designed to complement your family’s values and goals. When you work with your Investment Advisor to establish a charitable giving program you will be rewarded with:

  • Tax savings. We'll issue a tax receipt when you donate cash or publicly listed securities. In addition, when you donate securities, the tax liability typically associated with the realization of accrued capital gains may be avoided. 
  • Efficiency. Achieve all the financial advantages and personal satisfaction that comes with establishing your own charitable foundation, with significantly less cost and complexity.
  • Control. You advise on how you would like your donation to be used. We'll make sure you get regular, measurable feedback on the positive impact of your gift.
  • Legacy. Create lasting change by adding to your fund. Place a bequest in your Will, donate an RRSP or RRIF, transfer a paid-up life insurance policy, or invite family, friends and colleagues to get involved in your cause.

Let the Richardson GMP Charitable Giving Program take care of all the details. 

Learn more about charitable giving: 

  

 

If you would like more information on charitable giving strategies, or would like a complimentary copy of our publication“Richardson GMP Charitable Giving Program”,
contact your Investment Advisor.

 
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