Will the legacy you leave ... reflect the life you lived?
The EFC is working together with ADVISORS with Purpose to offer you a unique, complimentary and confidential service as you seek to create a legacy that will impact both the next generation and the Kingdom. ADVISORS with Purpose offers the benefit of competent Christian advisors and professionals who are trained to release the life changing principles of Biblical stewardship.
Three Important Questions:
- How much is enough?
- How much is enough for my family?
- How much is enough for charity?
Answering the "how much is enough" questions can be very liberating for those with a lifetime pattern of giving and along with it, the opportunity to bless charities through their Wills.
We have enlisted the expertise of our friends at ADVISORS with Purpose so that they can help you create a custom-built plan that fulfills your goals and priorities. ADVISORS with Purpose will help make estate planning not just a pleasant experience, but one with eternal significance as well.
To help you get started, you may wish to access The Giving Gateway, an online interactive tool designed with the layperson in mind. It includes some teaching and results in a group of documents that can then be sent to a lawyer for inclusion in a Will. To access The Giving Gateway, you will require a code which can be obtained by contacting us. Our LG contact information is on the right-hand bar.
In the meantime, please prayerfully consider these options: RRSPs/RRIFs, public listed securities, will, property, annuities, trusts, endowment, in kind and life insurance.
In any given year during your lifetime you are allowed to donate up to 75% of net income to charity. Depending on the jurisdiction in which you live, your gift will generate a tax credit of 39% to 46%. An illustration of charitable giving and the net cost of a gift is given below.
|
Benefit of Donation
|
|
Amt of charitable donation
|
$10,000
|
|
Tax credit (i.e. 46% in Ontario)
|
$ 4,600
|
|
Net cost of donation
|
$ 5,400
|
The EFC can accept any gift type that is legal in Canada and is pleased to provide information on the various gift instruments approved by the Canada Revenue Agency (CRA) in the legacy/planned giving links (see right-hand column). As you view these documents you will find links that will take you directly to the CRA website.Supporters are encouraged to not only research the CRA website for information, but to also obtain independent legal counsel and advice from their accountant or tax consultant before finalizing a gift to the EFC. The EFC makes every effort to keep the information posted on our website current but do not accept any liability for actions taken on the basis of the information provided here.
Please note that the EFC accepts only one designation of gifts which is the GENERAL FUND. Individual supporters may request that their contributions be used for specific purposes, and the EFC will make every effort to use funds as requested, however, there is no legal obligation for the EFC to do so.
For More Information... If, after reading the material on our website, you need more information, you can visit Canada Revenue Agency’s (CRA) Charities Directorate page. To verify if a charity is registered under the Income Tax Act, and to access its annual information return, please visit the CRA Charities Listings page. You can also contact the Charities Directorate by calling 613-954-0410 or 1-800-267-2384. For personal and general tax information, you can visit the CRA website. You can also use the CRA T.I.P.S. (Tax Information Phone Service) by calling 1-800-267-6999. If you would like to get any of the CRA forms or publications mentioned in this pamphlet, visit Forms and Publications page or call 1-800-959-2221. Teletypewriter (TTY) users - If you use a TTY because you have a hearing or speech impairment, an agent at the CRA’s bilingual enquiry service (1-800-665-0354) can help you during the hours of service indicated in your tax guide.
|