You Too Can Give!

Giving monetary gifts of support does not always have to be a financial strain nor does it have to be a one time instantaneous gift. Planned giving provides you with the opportunity to arrange your donations in a manner that will provide the maximum benefit to you, your family, and the charities that are important to you.

When giving a planned gift you can decide how you would like your gift to be received and where you would like your money to go. Your gift may be outright and immediate, or a future gift arranged now but not received by the charity until a future date.

One method of planned giving is through will bequests . By planning gifts of a specific cash amount or asset or a percentage of the remaining estate are popular bequest choices. Your estate receives a donation receipt for the value of your gift, providing a tax credit to reduce tax otherwise payable on your final tax return. If planning your gift through this method it is advisable to obtain advice from your financial planner or your legal advisor in preparing your Will and making a gift through your Will.

Another method planned giving can be through gifts of life insurance . Life insurance is a way to make a considerable future gift at an affordable current cost with out reducing your estate. By making the Japanese Canadian Cultural Centre or other charities the owner and beneficiary of your insurance policy your estate receives a donation receipt when the policy proceeds are received. This will provide much needed tax relief against capital gains when your estate is settled.

Easy ways of giving are through gifts of cash and or through annual planned funding . With planned funding you can agree on a specific amount of money to be given over a period of time in a manner that would best suit you. By giving gifts of cash you can maximize your charitable deduction and deliver immediate benefits to the charity.

A popular form of giving to the Japanese Canadian Cultural Centre has been gifts of publicly traded stocks and mutual funds . When giving this type of gift the stocks and mutual funds will be cashed in at the current market value and you will receive a tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them.

Finally, you can also give the gift of real estate to the Japanese Canadian Cultural Centre. By giving a gift of real estate you can simplify your estate and give an immediate gift, which will in turn give you a tax receipt for the full market value of the property.

Planned giving is possible for everyone and your gift can make a huge difference for the charities and causes that are important to you. To find out how to maximise your donations try out our new GIFTabulator program. GIFTabulator can help you establish the best way to give by calculating your income, assets, tax rates and interest rates. Try out our new service and leave a legacy with the Japanese Canadian Cultural Centre.

With so many different ways to give there is no reason not to donate. Please contact Bill Petruck at 416-441-2345 ext. 225 at the Japanese Canadian Cultural Centre for more information, or to discuss the best strategy for your estate planning. By planning now you will make a big difference for your family and your community.