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All items tagged with: charitable donations

Financial Pros Oppose Tax Credits for Journalism Donations

Posted: January 08, 2019
Posted in: Strategic Thinking , Federal Government, poll results, charitable donations, CE summits, tax proposals, budget 2018, Fall Economic Update, donations credit, journalism donations, non-profit journalism

One controversial change o in the the November 21, 2018 economic statement was the proposal to provide taxpayers with a charitable donation credit for monetary gifts to non-profit journalism organizations. We asked tax and financial professionals their opinion on this hot topic: 78% of those who responded to Knowledge Bureau Report’s December poll voted to oppose this measure, hands down, even at a giving time of year.

In-Kind Donations: 94% of Canadians Make Them

Posted: December 19, 2018
Posted in: Strategic Thinking , Strategic Philanthropy, tax credits, charitable giving, charitable donations, registered charities, donation tax credit, charitable donations credit, in-kind donations, non-monetary donations, advantages

There are tax advantages that encourage giving back to the less fortunate this holiday season – it’s a tax gift that keeps on giving. But giving has taken on an interesting trend: not all donations made by charity-minded Canadians are monetary. In fact, Statistics Canada reports that 94% make in-kind donations each year, which includes items like clothing, toys, household goods, or food.

Addressing Philanthropy Goals Before Year-End

Posted: December 04, 2018
Posted in: Strategic Thinking , Strategic Philanthropy, charitable donations, donation tax credit, philanthropy, charity, donations receipts, giving, MFA- Philanthropy

In the height of charitable giving season, a review of recent tax changes provides an opportunity for advisors and clients to plan more strategically, while maximizing tax savings and planning 2019 investments before year-end. Here’s a checklist of talking points for your December meetings:

New Gift Planning Designation for Advisors

Posted: September 24, 2018 By : Knowledge Bureau Writers
Posted in: Breaking News, Practice Management, Strategic Thinking , Strategic Philanthropy, charitable giving, charitable donations, Donations Savings Calculator, tax deductions, financial education, philanthropy, donations, The Canadian Association of Gift Planners, CAGP, Spire Philanthropy

The Canadian Association of Gift Planners (CAGP), Knowledge Bureau and Spire Philanthropy are pleased to announce their collaboration to introduce a new professional designation for the financial services sector. The MFA™ Strategic Philanthropic Services Specialist designation will denote specialized professional credentials to develop plans for individuals and families interested in strategic philanthropy.

It’s Better to Give…Before the First-Time Charitable Donor’s Super Credit Disappears

Posted: December 19, 2017
Posted in: Strategic Thinking , Financial Literacy, tax credits, knowledge bureau, charitable donations, Evelyn Jacks, tax courses, financial education, tax benefits, charitable donation claims, donating to charity, First Time Donor’s Super Credit, tax-efficient planning, tax incentives

In the spirit of the season, it’s heartwarming to know that the vast majority of Canadians are lending a helping hand to those in need. And what goes around comes around: be sure to inform your clients about tax credits they may qualify for, thanks to their generosity.

Gift Not Negated with Inflated Charitable Tax Receipts

Posted: May 08, 2014
Posted in: Breaking News, Tax Planning , tax court, charitable donations

As per subsection 118.1(3) of the Income Tax Act (the Act), an individual may claim a tax credit with respect to a gift made to a registered charity. The amount of the tax credit is determined by the amount of the gift.