Giving to Charity with Tax Benefits

Canadians continue to give to charity, but the landscape is changing. The percentage of tax filers donating to charity fell from 21.9% in 2013 to 16.8% in 2023, even as average annual donations held steady at $654. At the same time, studies show up to 50% of high-net-worth families expect to increase their giving in 2026, highlighting growing opportunities for strategic philanthropy, legacy planning, and tax-efficient charitable giving.

A recent episode of Real Tax News with Evelyn Jacks and Friends, explores an important reality for advisors: charitable giving is becoming part of broader tax, estate, and wealth planning conversations. There are tax advantages associated with charitable giving, including donation tax credits and the significant benefits of donating appreciated securities directly to charities. The discussion also examines growing interest in donor-advised funds, legacy giving through wills and estates, and the behavioural trends influencing modern donors.

The podcast also welcomes Michael Flux, wealth advisor at Connor, Clark and Lunn Private Capital, who shares insights into how strategic philanthropy has become an increasingly important component of financial planning for many families.

One of the key themes explored is intentional giving. Research referenced in the episode suggests that donors who actively plan their philanthropy tend to give more frequently and more substantially over time. For advisors, this creates an opportunity to move beyond transactional financial discussions and help clients integrate values-based planning into their long-term wealth strategies.

Listeners can hear the full discussion in the latest episode of Real Tax News with Evelyn Jacks & Friends

For professionals interested in specializing in this growing area of advisory practice, Knowledge Bureau offers the Master Financial Advisor – Philanthropy (MFA-P™) Designation Program. The program is designed to help advisors become trusted specialists in charitable giving strategies, including donor-advised funds, charitable foundations, life insurance giving, and legacy planning.

Courses:

Introduction to Strategic Philanthropy
Learn how to tap into clients’ philanthropic goals. In the process, increase opportunities to build trust by understanding clients’ values and critical personal causes. Engage and get multiple stakeholders on the same page, with objectives for deploying a successful charitable giving strategy. Obtain a precise understanding of how to integrate the tax aspects of charitable giving. In this course you will learn how to plan and integrate your clients values with new technical expertise.

Understanding the Charitable Sector
Obtain a deeper knowledge of emerging philanthropic and fundraising trends. Learn to guide clients’ giving objectives towards the investment options and charitable structures that ensure gifts will be used wisely and according to their wishes. This course provides foundational knowledge for navigating and assessing the charitable landscape. Students will be equipped to provide guidance when evaluating giving options by mapping the charitable ecosystem.

Integrating Gift Planning
Obtain a deep, broad knowledge of how to apply gift planning vehicles to the objectives of various client profiles. Learn how to stay onside with ethical and legal considerations in doing so. Using true-to-life case studies, the student will learn to anticipate how to help clients maximize their gifts and make impactful gifts while minimizing the costs of giving.

The MFA-P™ program is delivered online, allowing professionals to study at their own pace while developing specialized expertise to support charitable organizations, donors, and families in their communities. Save 20% on your tax-deductible tuition fees with code MFAP20.