Over the last two decades, a philanthropic planning industry has developed thanks in part to federal government tax policies that support charitable giving. However, even the most well-intentioned donations can create burdens that some charities are not equipped to handle.
That's why donors should consult their charity recipients particularly concerning unusual, substantial or conditional donations or gifts. By coordinating with recipients, donors will know their generosity will have a positive and lasting effect on the charities and the communities they serve.
This guide provides an overview of donation strategies and income tax incentives available to Canadian residents that make charitable donations. By highlighting strategies and tax incentives, we hope to encourage philanthropy and charitable giving, which will benefit both our local and worldwide communities.