Give | Fall 2024

Manitoba

Fall 2024

The value of giving It’s never too soon to begin teaching the next generation about generosity. PAGE 10

Fall 2024

Manitoba

Figuring out what to do with your money and your time is complicated. Manitobans are often the first to stand up to assist those in need. Unfortunately, with so many causes to choose from, decisions have to be made. It’s an even more sensitive topic to those of us dealing with how to decide upon a legacy. While providing funds to family or friends after passing is a widespread practice, many Manitobans hope to also leave something to deserving causes. These decisions will continue the great work we’ve done throughout our lives. This issue of Give Manitoba will focus upon important considerations such as teaching your children to continue philanthropic practices; tax implications of giving; and budgeting to ensure you can assist fellow Manitobans. So, whether you are planning for the future, or thinking about providing the gift of philanthropy this holiday season, Give Manitoba offers several options to consider!

Charlene Adam The Free Press, Director, FP Features

Manitoba

Chief Executive Officer: Mike Power Vice President Revenue and Business Development: Michele Prysazniuk Director, FP Features: Charlene Adam Editor: Jim Timlick Contributing Writers: Jim Bender Geoff Kirbyson Janine LeGal Todd Lewys Design: Ken Waterman

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Help make sure kids like Janessa always have the best care possible. Become a monthly donor at goodbear.ca

Your support will: • Unlock the mysteries of childhood diseases • Build places of hope and healing • Purchase specialized medical equipment • Support Child Health programs Continue caring for sick and injured kids. That’s the power of your legacy gift. You have the power to ensure a brighter future for kids in Manitoba. The gift of a future For a confidential discussion on how your legacy can help, contact 204-797-4387 or lrayter@goodbear.ca. Let’s make anything possible.

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TABLE OF CONTENTS

MAKING YOUR CHARITABLE CONTRIBUTIONS COUNT A financial advisor provides tips on getting the most bang for your charitable dollar. page 6 THE VALUE OF GIVING It’s never too soon to teach the next generation about the importance of helping others. page 10

RE-ENVISIONING THE HARRY J. ENNS WETLAND DISCOVERY CENTRE Award-winning attraction poised to undergo a reimagining aimed at creating life-changing learning experiences. page 12 THE DAY THAT EVERYTHING CHANGED Adult and Teen Challenge leader reflects on the day that changed his life and what has happened since. page 14

GIVING A GIFT THAT COUNTS

Charitable contributions have begun to supplant traditional gifts when it comes to celebrating special occasions. page 18 GOOD NEWS FOR THE GOOD HEARTED A federal charitable donation tax credit is poised to increase later this year. page 22

BECOME A PARK VISIONARY AND BEGIN YOUR LEGACY TODAY Making a gift in your will is a meaningful way to support the Assiniboine Park Conservancy and help preserve and protect this beloved gathering place for future generations. Contact us today to learn more. donations@assiniboinepark.ca 204 927 8080 | assiniboinepark.ca

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Making your charitable contributions count

QUADRANT PRIVATE WEALTH

SETTING A BUDGET CAN HELP YOU AND THE CAUSES YOU ARE LOOKING TO ASSIST

BY JIM BENDER

G iving can be rewarding in more ways than one. “Make sure your charitable dollars count for you,” advises Murray Palay, executive chairman and portfolio manager for Quadrant Private Wealth. “The reward is pretty big because there’s nothing better than feeling good about helping.” Your philanthropy can also pay off in tax deductions, whether you are an individual or a corporation. But it takes planning. First, you must decide which charities you want to support, how much to give, and how

Murray Palay, executive chairman and portfolio manager, Quadrant Private Wealth. Submitted photo

Manitoba

“Make sure your charitable dollars count for you. The reward is pretty big because there’s nothing better than feeling good about helping.”

often you want to donate after discussing it with your family. That means establishing a budget rather than donating haphazardly. “The importance of the budget is to determine what causes are important to you and what increment means can make an impact, and it varies because every dollar counts,” Palay says. “In some cases, it’s not how much you give, it’s how you give. As your income or affluence grows, the opportunities to give become greater. But the result is, a dollar to charity is a dollar to charity. continued on page 8

— Murray Palay, executive chairman and portfolio manager, Quadrant Private Weath.

PLAY your PArt

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continued from page 7

“From a budgeting perspective, you kind of have to look for the cause and effect you’re going to get and one of the things that we have found with our clients over time is that there tend to be core donations that they make every year. So, we kind of peel the onion away. The core donations may be to your church or religious organization and may be something where someone in your family has been impacted – impacted by disease and you want to memorialize or honour or acknowledge them by giving to a charity for that. So, you want to give that amount every year.” But too many philanthropists are undecided about how much to give. “Every dollar’s important and, from the perspective of a guide, many of these organizations will say a good place to start is one per cent of your income,” Palay says. “I think people would be surprised that they’re very close to giving one percent of their income.” Of course, that percentage could increase as your income increases. And that can affect your tax returns in a positive way.

“If you look at Revenue Canada agency data, it’s surprising that not a huge percentage of people even claim their $200 tax credit,” Palay says. “These people are giving and not realizing that they can deduct it because the first $200 of a donation has a 15 per cent tax credit. Accumulative donations over $200 have a 29 per cent federal tax credit, which translates in Manitoba to a 46 to 50 per cent break if you give over $200 and you’re at the top tax bracket. Then, almost half of your donation is covered by offsetting taxes. So, it can be very tax efficient.” Couples who donate to charity and claim those donations separately are missing out on tax breaks. Instead of each one giving and claiming $100 to $150 a year, they should combine those amounts and just have one partner claim the total amount, Palay advises. “Therefore, anything over $200, they’ll get a better tax (return),” he says. “There’s a tax efficiency to doing these things the right way.” Quadrant Private Wealth advises many of its clients on such matters. “We advise several hundreds of

families, corporations and institutions,” Palay says. “There’s no charge for our advice as long as you’re a client. In order to be a client, you have to be invested in us. So, it’s a value-added service that we provide … Charities are an extremely important part of what we do.”can help by purchasing the equipment.” According to Statistics Canada, Manitoba was the most charitable province in Canada in 2022: Just under one in five tax filers (19.3 percent) declared a donation on their tax form that year, with a median donation of $590. These donations were equal to a value equivalent to nation-leading 1.0 percent of total income. That shows Fowler that philanthropy is alive and well in the community. “When someone makes a charitable donation, my hope is always that it brings the giver joy,” she says. “You do get a tax receipt, but the tax receipt isn’t the most important part of the gift. For most people, it’s the joy that comes from knowing they had an impact on other people’s lives and that they’re making an impact on the present and the future.”

Couples who donate to charity and claim those donations separately are missing out on tax breaks.

Manitoba

Your Legacy Can Support the Future of Care in Manitoba Your legacy gift will make a difference as we strive to support the unique services that only Misericordia offers to Manitobans. From the Eye Care Centre of Excellence to Health Links – Info Santé to the Sleep Disorder Centre , your support today, and in the future, makes a tremendous impact on

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mhcfoundation@misericordia.mb.ca | 204.788.8458 misericordiafoundation.com/legacygiving

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UNITED WAY

THE VALUE OF GIVING WHY IT’S IMPORTANT TO TEACH YOUNGSTERS ABOUT HELPING OTHERS BY JIM TIMLICK

t’s never too soon to begin teaching about the importance of giving. Heather Block, director of strategic initiatives for United Way Winnipeg, says the sooner families begin teaching youngsters about generosity and gratitude, the more likely it is those messages will help shape the adults they become. “I’ve learned from Indigenous leaders and peoples to think about those around us as our relatives and kin and to look at others as those who deserve our care and respect and kindness,” she says. “Part of that is about giving financially, part of that is giving time, and part of that is listening and

learning from others. I think with the next generation as they grow those values and ways of interacting, they will continue with them into adulthood and they’ll become established behaviour for them.” Sharing that message has never been more important than it is right now, as the number of Canadians who donate to charity has been in decline for more than a decade. A recent Statistics Canada report indicated the number of tax filers claiming charitable donations fell from one in four in 2012 to a little more than one in six in 2022. “There are less and less people donating to charities every year,” says Block.

“Yet, as we have seen, the needs of the community are growing. For the sake of a healthy community, it’s important that we embed that lifestyle of giving. The best and easiest way to embed it is with the next generation so that it just becomes a lifestyle.” Block says there are several ways families can teach kids about the value of giving. One of the easiest and most effective ways is to involve them in the decision-making process when it comes to determining any charitable contributions the family will make. Even though the child may not be giving any of their own money, they will still feel invested in that decision-making.

“Part of building empathy in kids is finding out what matters to them, where their heartstrings are.”

— Heather Block, director of strategic initiatives, United Way.

Manitoba

Another popular teaching tool is to volunteer as a family. Block says this form of hands-on learning can help to demystify the individuals who receive help and build empathy in young people. “Rather than seeing people that you don’t know as others, when you volunteer and engage with folks that you might not have otherwise, it builds community,” she adds. Block says one of the most important things to do when it comes to encouraging youngsters to become involved in giving is to find causes or organizations they feel engaged with. “That’s the first step,” she says. “Part of building empathy in kids is finding out what matters to them, where their heartstrings are. It’s about listening to your kids and finding out what connects with them.” The United Way offers a program designed to encourage volunteerism and civic engagement among high school students, post-secondary learners and young professionals. Youth United is open to anyone between the ages of 16 and 24. As part of the program’s curriculum, participants identify needs they wish to address in the community. They then develop a funding proposal which is submitted to a panel of their peers. Successful pitches receive funding and participants can implement their initiatives and see first-

Heather Block, director of strategic initiatives, United Way. Submitted photo

hand the impact their actions have in addressing the community’s needs. “It’s about encouraging youth to identify needs in the community and being part of making a difference,” says Block.

By making a planned gi to the Children’s Rehabilitation Foundation, you will help Jacoby and other youth with disabilities thrive. Your legacy will provide life-changing equipment, programs and support for generations to come. I belong. ibelongmb.ca To learn more about our mission, please contact our Fund Development Ocer at (204) 258-6702.

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RE-ENVISIONING THE HARRY J. ENNS WETLAND DISCOVERY CENTRE Help us inspire generations to come, and leave your mark with recognition opportunities starting from $10,000.

Manitoba

ak Hammock Marsh is home to 25 species of mam- mals, 300 species of birds, numerous amphibians, reptiles and fish, and countless invertebrates. During migration season, the number of waterfowl using Oak Hammock Marsh is one of North America’s birding hotspots and a great destination for people of all ages. The 36-square kilometre Wildlife Management Area features a restored prairie marsh, aspen-oak bluffs, artesian springs, some of Manitoba’s last remaining patches of tall-grass prairie and more than 30 kilometres of trails for you to explore. O SUPPORTING WHAT MATTERS Supporting the re-envisioning of the Harry J. Enns Wetland Discovery Centre is important to wildlife and the community. Enhance education: Help us create innovative programs that teach the next generation about the vital role wetlands play in our ecosystem. Imagine a child’s wonder as they explore interactive exhibits, learning about wildlife and conservation in a hands-on and engaging way.

the marsh can exceed 100,000 daily! This beautiful location offers the perfect setting for the award-winning Harry J. Enns Wetland Discovery Centre’s many engaging and educational programs. Open year-round, the Discovery Centre welcomes school groups, local visitors and tourists for a variety of guided programs. The Discovery Centre also features a theatre, a scenic café, gift shop, meeting rooms, rooftop observation deck and interactive exhibits.

Foster community: Support the transformation of the Disc- overy Centre into a hub for local events, fostering connections between people and nature. Your donation will help create spaces where people can gather, learn and be inspired. Promote sustainability: Contribute to critical upgrades that will make the Discovery Centre a model of energy efficiency and environmental stewardship. Your generosity will help us reduce our carbon footprint and promote sustainable practices. Create accessibility: Ensure that everyone, regardless of physical ability, can enjoy and benefit from the Discovery Centre’s offerings. Your support will help us build accessible facilities that welcome all members of our community.

BREAKING GROUND ON A GROUNDBREAKING ATTRACTION

Wetlands are essential to life, often referred to as ‘nature’s nursery’. Beyond wildlife habitat, they support climate resilience, water quality improvements, trap and store carbon, and pro- vide recreational opportunities for communities. There is no better place to gain an understanding of their importance on the landscape and what can be done to conserve and restore them than the Harry J. Enns Wetland Discovery Centre at Oak Hammock Marsh.

Be part of a new vision that will create life-changing learning experiences for visitors of all ages, helping them to form new relationships and connections with nature. This landmark Manitoba attraction will deliver engaging and interactive experiences, leveraging technology to take visitors through a journey that connects, transforms and inspires action.

GIFTS FOR TODAY

Kathryne Cardwell Planned Giving Manager Ducks Unlimited Canada Z 204-467-3219 Z k_cardwell@ducks.ca LEAVE A LEGACY

William (Bill) Hibbard Senior Development Manager Ducks Unlimited Canada Z 431-554-6673 Z w_hibbard@ducks.ca

Nathalie Bays Manager, Harry J. Enns Wetland Discovery Centre Z 204-467-3308 Z n_bays@ducks.ca

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ADULT & TEEN CHALLENGE

The day that everything changed

By Janine LeGal

a six-year addiction. “It led me to steal and get into trouble with the law.” To begin to extricate himself from the life-controlling drug addiction, Emond went through the process of treatment and recovery for several years. From the Addictions Foundation of Manitoba, to behavioural health, seeing a psychologist and a psychiatrist – and getting medicated – he tried all kinds of methods to get his life back, but nothing worked. “My family didn’t want anything to do with me. I was 25 years old and I wanted to end my life.” When Emond was standing on the Norwood Bridge, he looked up, asking God why. Rather than jump he felt compelled to go to his mother’s house.

D aniel Emond grew up in a loving home, excelled in hockey and was encouraged and motivated to do well academically. He graduated from high school aspiring towards a career as a medical doctor. The future looked bright. During his first year in pre-med at the University of Manitoba, his father was diagnosed with Lou Gehrig’s Disease, and everything changed. “It was the turning point,” Emond said. “In a matter of two years, hope to the future was gone. I was in a deep depression and started abusing substances to try to cope,” he explained, about what would become

Daniel Edmond, president and CEO, Adult and Teen Challenge. Submitted photo

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Manitoba

ADULT & TEEN CHALLENGE

“She wouldn’t let me in but, in tears, she took me to Tim Hortons. A man walks in who’d been in Headingley Jail. I hadn’t seen or heard from him in years. He walked over to me and my mom, and told me he went through the ATC [Adult and Teen Challenge] program. That was Christmas, 2005.” From there, Emond applied for the in-residence program, stayed on for leadership training, and continued to where he is today, President & Chief Executive Officer, Adult and Teen Challenge, a global faith-based non- profit organization. A world leader in providing freedom from addiction for men, women and families of all ages, with over 30 years serving central Canada, ATC offers all-encompassing treatment and education, which includes services from the first crisis phone call for help. “I’m sitting here with my wife. We have two beautiful teenage kids. I’m so thankful. I never thought I’d be a CEO of a not-for-profit, recently appointed as

regional global Teen Challenge of North America, serving our whole continent, putting hope within reach of every family, providing an answer.” That answer, Emond says, requires faith. “I got a phone call from a mother. Her son is in our resident program. She opened her heart, shared how their whole family has seen a miraculous recovery. This is the first time he has remained in a program. The trauma that family has gone through… Now he has found the right fit at ATC. They are truly grateful and thankful for the impact. “The answer was that as a family they were able to embrace faith together. It has truly been the difference- maker, the only difference. Faith— what we call the Jesus factor,” Emond explained. ATC offers high school and youth presentations, complex trauma and

education and treatment. “We are not a hyper-religious thing that some people see us as. This is real. We are saying that whoever comes and wants our help, the evidence is showing that over 80 per cent of those people are finding freedom,” Emond said, noting that ATC measures success as five years of sobriety or abstinence. “The programs we offer provide some of the best if not the best success results in the world. “We see every day families get their prayers answered, their loved ones freed. We see addiction end in people’s lives that they never thought possible.” With community offices across the province, offering supports, intervention, counselling, and a range of additional services, ATC is helping hundreds of families every month start the recovery journey.

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Community offices providing support and mentoring for addiction-affected individuals and their loved ones

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www.teenchallenge.tc 1-888-822-9992 info@teenchallenge.tc

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WINNIPEG FOUNDATION

Giving a gift that counts CHARITABLE CONTRIBUTIONS IN PLACE OF TRADITIONAL GIFTS A GROWING TREND

BY TODD LEWYS

M anitoba has long been recognized as one of – if not the most – generous provinces in Canada. In 2021, 19.7 per cent of Manitobans made charitable donations, a full two per cent higher than the national figure that year. That figure is impressive, as Manitoba’s median income is generally lower than the national average. Now, it turns out Manitobans have found another way to give. In recent years, an increasing number of people in North America has chosen to make charitable donations, or contributions, in place of giving presents during the holiday season or on other special occasions. Mary Beth Taylor, vice-president of community generosity with the Winnipeg Foundation, says that trend is alive and well in Manitoba. “Yes, we’re definitely seeing it,” she says. A few factors have contributed to the trend, says Taylor, including an alignment with a minimalist movement that has captured the fancy of many people.

“First, it’s a way of combining what you like to do in the community with regular gift buying,” says Taylor. “It’s also a way to be more creative with gift giving. These days, people have less disposable income, so instead of buying a costly gift for someone, they instead choose to gift what they would have spent on that gift in the honour of a charity.” She adds that this this shift is aligned with a practice that goes back decades. “People have always given at the end of a person’s life. When they gave a gift in their honour, it was directed to a charity such as CancerCare. Now, we’re seeing more people give charity-themed gifts more during a person’s life as a tribute to who they are.”

Mary Beth Taylor,vice president of community generosity, Winnipeg Foundation. Submitted photo

continued on page 20

Manitoba

Make changing the course of cancer part of your story.

Sandra in Budapest in 2018 during her immunotherapy treatment.

A gift in your will to CancerCare Manitoba Foundation shapes the future of cancer breakthroughs in our province.

she was first diagnosed, including immunotherapy and a new type of radiation therapy. Sandra is thankful to donors for the extra time you have given her, “‘Knowing I was only given a year or so to live, and here I am today…it’s a bit of a miracle.” While in treatment, Sandra decided to ‘pay it forward’ by including a gift in her will. Her investment in research will one day help someone like her after she is gone. “In deciding my will, I wanted to give back in a way that resonates with me. I have seen treatment improvements and some successes for lung cancer–for my mother, for myself and now for friends and family. This has been very encouraging, and I want to contribute too.”

Seven years ago, Sandra was given one year to live following a lung cancer diagnosis. Today, she is travelling the world and living a full life thanks to the support of donors. Sandra’s experience encouraged her to make a gift to CancerCare Manitoba Foundation in her will. In early 2017, pathology results from surgery confirmed Sandra had stage 3B lung cancer. “When the results came back and they told me I had cancer, I didn’t believe it,” said Sandra. “It was really hard news to take in.” Sandra was told that even with treatment, she likely only had one year to live. Thanks to donors’ continued support of research, Sandra has benefitted from treatments not available when

Today, Sandra is doing well. She continues with regular appointments and scans and spends a lot of her time doing what she loves – travelling the world. “Travelling is my way of looking forward. Now when I go in for my appointments, people don’t ask me how I am or how I’m feeling, they ask where I’ve been and where I’m going.” Sandra has seen the progress and experienced the life-changing impact of donor-funded research at the Paul Albrechtsen Research Institute CancerCare Manitoba. Thanks to donors, and to Manitobans who have so generously made gifts in their wills, more Manitobans like Sandra will experience more tomorrows doing the things they love.

Your Impact Your decision to include a gift in your will to CancerCare Manitoba Foundation will have a profound impact on families. You will support: • A state-of-the-art cancer research centre operated by clinical and research talent from across the world. • A robust clinical trials program. • The very best physical and emotional support and care for Manitobans affected by cancer. We would welcome the opportunity to connect with you. It would be a privilege to discuss your considerations, answer questions and help to ensure that you have everything you need as you make this important decision.

ON1160-675 McDermot Ave.

WPG, MB R3E 0V9 cancercarefdn.mb.ca

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To learn more about planning your gift, please call Monique Gauthier, Development Manager at 204-927-5433 , or email mgauthier8@cancercare.mb.ca

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WINNIPEG FOUNDATION

charity-themed gifts is merely an extension of our giving nature. “It really is going over well,” says Taylor. “A lot of people are saying, ‘I have enough’, and are choosing to support their community by honouring someone else. At the same time, the donor is “That’s where the creativity comes in. If a child is having a birthday, they might get a gift of $20 where $10 will go to a charity, and the other $10 goes to the child.” — Mary Beth Taylor, vice-president of community generosity, Winnipeg Foundation.

continued from page 18

Nowadays, charitable donations are being made in lieu of gifts for occasions such as anniversaries, birthdays and retirements. “That’s where the creativity comes in,” Taylor says. “If a child is having a birthday, they might get a gift of $20 where $10 will go to a charity, and the other $10 goes to the child. Everyone in the family might give the same type of gift so the child can pool the money and buy something they like.” In addition to be a loving gift, it’s also a practical one, she notes. “Basically, it can serve as a way to introduce a child to the concept of charitable giving, whether it’s giving to the Children’s Hospital, to shelters, or Winnipeg Harvest. If a child buys some Lego to play with, they might also be encouraged to give an equal amount to charity.” In Manitoba, where some say making charitable donations is in the blood of all its residents, the trend of giving

saying they believe in a cause, such as Assiniboine Park or the Museum of Human Rights, both of which benefited tremendously from public donations. Generosity is embedded in our culture here in Manitoba.” More than anything, the trend of deciding to make a charitable donation instead of giving a lavish gift is having a broader impact on society. “While giving to charity is part of our tradition here, this trend is making philanthropy accessible for everyone. Instead of giving out a bunch of gifts at Christmas, you can how see a need at Siloam Mission and choose to give to them instead, while inviting your friends and family to join in.” In a nutshell, this heartwarming trend is all about thinking outside of the box, Taylor says. “It’s giving us more ways to support charities. Everyone benefits, and that’s a good thing.”

Manitoba

WHAT IS A COMMUNITY FOUNDATION? WHAT IS A COMMUNITY FOUNDATION? WHAT IS A COMMUNITY FOUNDATION?

Community foundations are public charitable organizations, built through generous gifts from people like you. Every gift, no matter the size, is pooled and permanently invested. Original gifts are never spent, giving us the Every gift, no matter the size, is pooled and permanently invested. Original gifts are never spent, giving us the ability to make grants back to the community with the interest earned. ability to make grants back to the community with the interest earned. ability to make grants back to the community with the interest earned. WHAT IS A COMMUNITY FOUNDATION? Community foundations are public charitable organizations, built through generous gifts from people like you. Every gift, no matter the size, is pooled and permanently invested. Original gifts are never spent, giving us the ability to make grants back to the community with the interest earned. Community foundations are public charitable organizations, built through generous gifts from people like you. Community foundations are public charitable organizations, built through generous gifts from people like you. Every gift, no matter the size, is pooled and permanently invested. Original gifts are never spent, giving us the

Patrice Yam & Peri Venka Winnipeg Foundation do

Patrice Yamada & Peri Venkatesh, Winnipeg Foundation donors

A gift t commun foundatio

A gift to a community foundation is

a gift that ke on giving to y commun For Good. Forev

a gift that keeps on giving to your community. For Good. Forever.

Learn more at wpgfdn.org

Learn more at wpgfdn

Learn more at wpgfdn.org

Good news for the good hearted CHARITABLE DONATION TAX CREDIT SET TO INCREASE LATER THIS YEAR

BY GEOFF KIRBYSON

Y ou could end up paying a little less tax after donating to charity this year, thanks for the most recent federal budget. The charitable donation tax credit for individuals has been increased from 50 per cent to 80 per cent when calculating the alternative minimum tax (AMT), which could reduce your AMT tax. The proposed changes to the AMT calculation — which were announced in April but have yet to become law —

were designed to address concerns from charities that the revised AMT would discourage Canadians from donating large amounts. The AMT is an alternative method to calculate a minimum amount of tax you owe in Canada. It often applies when you have claimed a preferential tax deduction such as the capital gains deduction or have preferential tax rates due to donation tax credits or dividend tax credits. The most tax-effective way to make a charitable contribution,

according to Yves Lagasse, a Winnipeg-based tax partner at Craig Ross LLP, is to donate stock in a publicly-traded company, because the capital gain is taxed at a zero per cent rate. “Stock is a very good thing to donate because of the tax rate plus you get a full donation tax credit on the other side. It’s a good way of not paying the gain at the two-thirds rate,” he says. The charitable limits remain the same — 75 per cent of net income

Manitoba

during your lifetime and 100 per cent in the year of your death. If those limits seem a little rich for your blood, don’t worry as Lagasse does not see these limits being reached very often. “The people who could get to that level are high-net-worth individuals with significant disposable income to donate 75 per cent,” he says, noting the vast majority of donations are between $2,000 and $15,000. Earlier this year, the federal government proposed raising the rate on capital gains from 50 per cent to two-thirds (66 per cent) effective June 24. The proposal has not yet become law, but once passed, will be retroactive to June 24, 2024. That means, you will be taxed 50 per cent on the capital gain until June 24 and two-thirds from

June 25 to the end of the year. Lagasse says the rule changes will impact high-net-worth Canadians. People who have a number of capital gains and donate a significant sum of money or stocks of public companies might fall into the new AMT calculations. He recommends people talk to their accountants, especially if they’re feeling particularly charitable, to determine if they’ll have any AMT issues. If you make a $1,000 donation to a registered charity, for example, you will receive $423 back, assuming you’re in the highest tax bracket, a tax credit of 43 per cent. “If you donate in Manitoba, it’s pretty lucrative as far as the tax credit goes,” he says.

“Stock is a very good thing to donate because of the tax rate plus you get a full donation tax credit on the other side ”

— Yves Lagasse, partner, Craig Ross LLP.

Formerly Society for Manitobans with Disabilities

Leave a Legacy

With your donation, an inclusive & accessible society is possible.

Your bequest will make a lasting impact on the lives of students at the University of Winnipeg and the University of Winnipeg Collegiate. For more information about Planned Giving contact: Bunny Gutnik, Planned Giving Officer The University of Winnipeg Foundation (204) 789-1471 b.gutnik@uwinnipeg.ca

manitobapossible.ca or call (204) 975-3025 Donate Today

uwinnipeg.ca/planned-giving

Manitoba 23

Let Your Love of Animals BE YOUR LEGACY

Who we choose to include in our wills is a reflection of those who are most precious to us in life – family, friends, and the causes closest to our hearts. When you decide to leave a gift to the Winnipeg Humane Society in your will, you are providing care for the future generations of dogs, cats, and critters who need our help the most.

To learn more, contact Sharon Rubel, Manager, Donor Relations at SharonR@WinnipegHumaneSociety.ca or 204 982 2033. winnipeghumanesociety.ca

HUMANE SOCIETY

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