In a world where every dollar counts, making your charitable donations work smarter, not harder, is a strategy embraced by savvy donors across Canada. At WiseInvest™, we’re committed to helping our clients discover the most tax-efficient ways to support their favorite causes, ensuring that both they and their chosen charities benefit maximally.

Here are Wise solutions to consider for tax-efficient giving in Canada:

1. Donate Securities Instead of Cash

One of the most impactful methods of donating is by transferring securities directly to a charity. When you donate stocks, bonds, or mutual funds to a registered charity, not only does the charity benefit from the full market value of the securities, but you also avoid capital gains tax. This Wise strategy amplifies your donation’s value and your tax efficiency, making it a win-win situation.

2. Donate Life Insurance

Life insurance policies are an often-overlooked vehicle for charitable giving. By naming a charity as the beneficiary of your policy, you can provide a significant future gift to the charity of your choice, either during your lifetime or upon your passing. This method of donation can provide tax benefits now or estate tax benefits for your heirs later, all while ensuring a lasting legacy.

3. Donate Your Term Insurance Policy

Before you decide to cancel that term insurance policy, WiseInvest™ suggests a more beneficial alternative. If you’re under 72 and looking to discontinue your policy for any reason, donating it to a charity could be a remarkably Wise choice. Not only do you prevent the policy from lapsing to no benefit, but you can also receive a substantial tax credit in return. It’s an innovative approach to transform a potential loss into a meaningful gain for both you and a charitable organization.

4. Donate Flow-Through Shares

Flow-through shares are a uniquely Canadian investment that offer considerable tax incentives, designed to encourage investment in mining and energy companies. By purchasing these shares, you benefit from 100% tax deductions. The Wise twist comes when you donate these shares to charity: you get 100% deduction for the initial investment and a charitable donation tax credit on top of that. With WiseInvest™’ s guidance, this strategy can return over 80% of your donation value back to your pocket, all while supporting the causes you care about.

Words for the Wise

At WiseInvest™, we believe in making every investment and donation count. Our Wise solutions are designed to optimize your charitable giving, ensuring you and your chosen charities enjoy the maximum possible benefit. By adopting tax-efficient donation strategies, you’re not just giving wisely; you’re investing in a better world.

Whether you’re interested in donating securities, life insurance, term insurance policies, or flow-through shares, WiseInvest™ is here to guide you through each step, making sure your philanthropic efforts are as impactful and tax-efficient as possible. Let’s make a difference together, the Wise way.

Together We Grow