Philanthropy/Charitable Giving

Total 173 Posts

How to Donate Art

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[caption id="attachment_11663" align="aligncenter" width="640"] The Leaf by Germaine Richier. Gift of Nora E. Vaughan, 1981, to the Art Gallery of Ontario[/caption]   I get a lot of inquiries from clients with art or collectibles that they want to donate – sometimes during life and sometimes as part of an estate plan.  These long-term collectors often believe a public gallery, museum or educational institution is the best “one stop” destination for….

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Estate Planning, Philanthropy/Charitable Giving

The National Gallery of Canada’s Purpose

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[caption id="attachment_5336" align="alignleft" width="300"] New Indigenous and Canadian Galleries at the National Gallery of Canada, Courtesy of The Globe and Mail[/caption] At the recent opening of the new Indigenous and Canadian Art Galleries at the National Gallery of Canada (NGC), Director Marc Mayer made a fascinating throwaway comment. Due to the inclusion of historical objects and artifacts made by Canadian indigenous people NGC had to redraft its legal purposes.  In….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Gift returned receipt required

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The Canada Revenue Agency was asked to speak to the implications of a gift return and their response included some commentary on the impact on the donor. The situation the CRA was asked to consider involved an individual taxpayer who, in 1981, gave a whole life insurance policy to a charitable foundation raising funds to support a specific college. The gift was made on the condition that the funds be….

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Canada Revenue Agency, Charitable Giving, Estate Donations, Executors, Insurance, Philanthropy/Charitable Giving, Tax Issues

A Statue in the Wrong Square

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Regular readers of the All About Estates blog may recall that each spring I write on legacy and how we honour the dead.  This usually involves a trip to a cemetery.  My cemetery visit this year was thwarted by a seagull attack – see my Hitchcockian video – so instead I will turn my attention to a historical bequest and recognition debacle. Bartolomeo Colleoni (1400-1475) was Lombardy-born general who served….

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Estate Donations, Estate Litigation, Philanthropy/Charitable Giving

Donation Tax Credit Mismatch

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It is a truism that Canadians who donate enough to charity at death can eliminate tax. This outcome is due to the 100% contribution limit for gifts by will and direct designation gift of registered funds and life insurance.  Since 2015, however, Ontario, Quebec, New Brunswick and Yukon have increased the top marginal tax rate, but not top donation tax credit rates.  In many cases estates with large donations to….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

You can’t wear two pairs of shoes at a time

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This Blog was written by: Robert Boyd To anyone who may have a pang of guilt when approaching the counter at an airport duty free with a bottle under each arm, there was no need, you were indirectly contributing to global education and medical research. Chuck Feeney grew up in very modest circumstances in New Jersey in the 1930’s and went on to pioneer the concept of duty free. As….

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Charitable Giving, Philanthropy/Charitable Giving, Uncategorized
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