Charitable Donations, Vancouver, British Columbia, Canada

Charitable Giving

The income tax act has traditionally provided income tax incentives on charitable donations. Under this act, there is a federal tax credit equal to 17% of gifts in a year up to $200. The credit increases to 29% for total gifts in excess of $200 (subject to the annual limit present level of 75%. Excess donation may be carried forward for a period of five years). The 1996 budget increased the maximum charitable credit for donation in the year of death to 100% of net income.

Donation of Securities to Public and Private Foundations:

The budget proposes to extend the rule that currently provides tax incentives to individuals who transfer publicly listed securities to public foundations. The proposal is that the capital gains inclusion rate will be nil on capital gains realized on a donation of publicly listed securities to private foundation.

Learn more about these services: Financial Planning, Retirement Planning, Investment Planning, Estate and Tax Planning, Life Insurance, RESP

Please read Gifts of Publicly Traded Securities by Mimi Tang (from the Dec. 4, 2007 issue of Business in Vancouver newspaper).

Please note: Ms. Mimi Tang, offers financial planning and insurance services as an independent representative, under Mimi Tang Wealth Management and Consulting LTD. and these services are offered independently of PEAK Securities.

PEAK Securities inc., an IDA registered, full service investment broker, limits its responsibility to investment products such as stocks, bonds, and mutual funds. PEAK Securities inc. is a member of the Canadian Investor Protection Fund.

Call Mimi Tang at (604) 926-8068 or email mtang@peakgroup.com
for financial planning in Vancouver, British Columbia, Canada.