COMMITTEE
Frank Ortencio
Jim Boyko
Ed Fleury
Brian Gorman
Greg Kennedy
Kevin Murdock
Kate Stone
Raj Thavaratnasingham
Carole Chabot
EDITOR
Kerry McLeish
|
|
|
|
 Dear ,
Well, it's that time of year again! You have until midnight on April 30, 2010, to file your individual 2009 income tax return. As always, our committee members are more than happy to sit down with you, your family and your colleagues to explain how filing tax returns can offer monetary and philanthropic rewards.
We hope you find the following section useful as you prepare this year's tax return and plan your giving for future years.
Frank Ortencio
Planned Giving Chair
First Vice President, Richardson GMP |
Filing your individual 2009 Income Tax ReturnHere are some helpful links from the Canada Revenue Agency:
If you or your spouse or common-law partner made a gift of money or other property to certain institutions, you may be able to claim a federal and provincial or territorial non-refundable tax credit when you file your return. Generally, you can claim all or part of this amount, up to the limit of 75% of your net income.
Donations of Canadian cultural property, ecologically sensitive land, and other capital property such as bonds, shares or stock options. For gifts to qualified donees of certain types of capital property, the capital gains inclusion rate is reduced to zero:
- a share of the capital stock of a mutual fund corporation;
- a unit of a mutual fund trust;
- an interest in a related segregated fund trust;
- a prescribed debt obligation (e.g., government savings bond);
- ecologically sensitive land (including a covenant, an easement, or in the case of land in Quebec, a real servitude) donated to a qualified donee other than a private foundation ; and
- a share, debt obligation, or right [e.g., security (stock) option] listed on a designated stock exchange.
|
|
Federal Budget
On March 4, the Federal Government tabled Budget 2010: Leading the Way on Jobs and Growth.
"March 4th 2010, was a very special day for registered charities in Canada" said Canadian Association of Gift Planners Executive Director Diane MacDonald. "That was the day that the details of the Federal Budget 2010 were announced - when the disbursement quota rule was eliminated. This decision is important for charities large and small across the country. A great budget day for Canadian charities!"
|
|
|
Planned Giving Journal
