A movement is building across the country. Over 3 million Canadians have left a gift in their Will to charity. Read this blog to learn about the advantages of naming Benefaction as a charity in your Will!

Benefaction is excited about a new insurance product, My Par Gift, launched by Canada Life, that can make the benefits of insurance policy donations even easier.

An important proposed change from the 2023 Federal Budget for Benefaction donors and advisors to be aware of is changes to the alternative minimum tax (“AMT”).

Canadians are harnessing the power of their Wills to become larger-than-life philanthropists who continue to inspire others and make an impact on the future. Join the movement and keep the love going for what matters to you!

Companies who “do good” experience higher employee retention and satisfaction

Whatever stage of life you are at, Wills and powers of attorney are two cornerstones of prudent estate and charitable gift planning.

We understand that choosing which organizations to support can be a complicated, overwhelming process so we’ve gathered a few resources to help navigate this decision!

There is a belief that making a significant gift to charity means disinheriting your family and friends, sometimes referred to as “zero sum estate planning.” But nothing could be further from the truth. Including charitable giving in the planning process can be like adopting another child while disinheriting the tax man.

As part of a holistic wealth management approach, it is important to understand all of the tax planning opportunities available, especially those that enable the donor to successfully achieve their charitable giving objectives.

One highly effective use for outright gifts of capital property is to eliminate capital losses or gains. Allowable capital losses can be carried back three years and forwarded indefinitely to offset capital gains. When a gift is being contemplated, often future and or past capital property transactions should be considered.

One of the best kept secrets: The Capital Dividend Account - Donating securities can be a great way to save tax, but for clients who hold publicly-traded securities within an investment holding company there can be an even greater opportunity for making tax-efficient charitable donations.

The Refundable Dividend Tax on Hand (RDTOH) is an important notional (not real) account on the books of Canadian private corporations.  It has two important components: (1) a refundable portion of Part I tax on investment income (capital gains and interest only); and (2) a refundable portion of Part IV tax on taxable dividends received from unrelated companies.

Show your grandchildren the importance of giving back. Grandparents around the country are finding ways — some subtle, some not so subtle — to drive home to their grandchildren the idea that it can be fun to give. Follow these tips to follow their lead.

Research conducted by The Philanthropic Initiative (TPI) with professional advisors on their motivations for, and methods of providing advice about philanthropy, revealed the following reasons for discussing philanthropy with clients.