Malcolm Burrows

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Malcolm is a philanthropic advisor with over 30 years of experience. He is head, philanthropic advisory services at Scotia Wealth Management and founder of Aqueduct Foundation. Views are his own. malcolm.burrows@scotiawealth.com

Budget 2019: Erosion of Charitable Incentives

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The 2019 Federal Budget was uneventful in terms of charitable incentives (journalism aside), but there are two proposals that will directly affect giving. The first relates to donations of cultural property – especially art with foreign origins – and the second to employee stock options. The former represents the reinstatement of a long-standing incentive, while latter an erosion. Cultural Property First the good news. The Budget reversed a 2018 federal….

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Philanthropy/Charitable Giving, Uncategorized

Annulled Charities

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Annulment is one of those antiquated words the whispers “convenience” and “pragmatism”.  Failed or incomplete marriage?  Divorce not an option? A Church-granted annulment will set both partners free.  Annulment is also a term in the Income Tax Act that applies to registered charities and registered amateur athletic associations. It’s rarely used, and the rules, as with marriage, are forgiving and practical. 206 Annulments The CRA database of registered charities currently lists 206 registered….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized, Wills

Estate donations, Time and Flexibility

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Last week I visited Princess Margaret Cancer Centre in Toronto for a grant status update meeting with a family foundation. I used to work at the Princess Margaret Cancer Foundation, but left 20 years ago. Returning after two decades provided me perspective on two key charitable estate planning considerations: time and flexibility. The Cancer Centre and the treatment of cancer has changed massively since I worked there. An obvious sign….

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Charitable Giving, Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

How to create a legacy

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Lyndsay Green’s new book on legacy, The Well-Lived Life, sets itself an ambitious goal. Its subtitle is “Live with Purpose and be Remembered”. Mixing stories, philosophy and practical tips on estate planning and philanthropy this readable book makes a bold promise. Creating a legacy is hardly a new goal, and each era of history is defined by a ruling philosophy or religion. Green’s guiding philosophy is secular and individualist. She is….

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Estate Planning, Philanthropy/Charitable Giving

Canadian Donation Incentives Explained

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Generous but Complex and Opaque Canada has the most generous tax incentives for charitable giving in the world, but few Canadians understand what they save and how the system works. Why the paradox?  Here’s a longer-than-usual blog providing an overview for your future reference. For starters, it is helpful to understand that the Canadian tax system is grounded in unspoken social policy: we all must contribute to society, but there….

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Estate Donations, Philanthropy/Charitable Giving, Tax Issues

Does Charity Data Matter?

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[caption id="attachment_7268" align="aligncenter" width="640"] The Toronto Star Christmas Carol Concert, 2018[/caption] What role do data and metrics play when we make charitable donations? Often very little. And that, in certain cases, is a good thing. This was brought home to me twice recently. First, at the 40th Annual Toronto Star Christmas Carol Concert in early December and then by an estate client. Public Data The Toronto Star’s concert at St…..

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized
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