Beat the Tax Collector
from Focus - Edmonton Epilepsy Association Newsletter, March 1999
Many individuals who are charitably inclined are hesitant about contributing assets such as stocks, bonds, or real estate to a non-profit group while they are still alive because of the loss of income from these assets.
But by rolling them into an Irrevocable Charitable Remainder Trust, the donor can receive the income while still alive and at the same time receive a tax receipt deductible against 75% of current income that can be carried forward as a deduction for up to 5 years.
Donors can thus have their cake and eat it too. Nothing is given up in terms of income, yet immediate tax benefits are realized.
Please contact Epilepsy Ontario for more information about how your donation can help.
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