2016 Tax Changes Regarding Charitable Donations

I thought I would summarize the budget changes that impact charitable donations, for your consideration and for discussion with your donors.

On December 7th, 2015 the federal government announced a 4% increase in tax credits for individuals with an income over $200,000, to 33% from the current 29%, taking effect January 1st, 2016.

This new tax credit of 33% will apply to gifts over $200 if individuals have an income of $200,000 or higher.

Gifts made in 2015 and previous years but claimed in 2016 or future years will not be eligible for the new 33% tax credit.

Our success in 2015 has seen many of our clients secure donations larger than they have ever received in the past. With the adjusted tax credit rate, the potential for larger major gifts is even greater.

Please visit https://www.giftabulator.com, to learn more about how to help your donors calculate their ideal donation with Giftabulator NOW® and how a major or planned gift can reduce the tax on their capital gains.

Happy New Year!

As we embark upon 2016, many have decided to make New Year’s resolutions.  Let me suggest several estate planning to-dos that shouldn’t be ignored as we are in the early days of 2016.

Update your will – since 60% of individuals do not have a current will, it may be time for you to update yours.  Your relationship with some or many individuals in your previous will may have changed, from your executors, to guardians of your now 40-year-old children.

Make a list of your tangible personal property assets – Take the time to figure out who will receive what.  Believe it or not it’s not the money or the real estate that your kids will fight over but your tea set, your baseball card collection or that special piece of jewellery.  Creating a list of beneficiaries of tangible personal property assets will help minimize this type of familial strife.

Take a look at your RRSP or RRIF beneficiary designations -Make sure the people you want as your beneficiaries are correctly stated on your registered investments.  This is also a good time to discuss charitable giving options through your RRSP/RRIF now or in your estate plan.

See how your estate and philanthropic plan can be realized through Giftabulator NOW.


If you haven’t had a chance to take care of these matters, try your best to do so.  You can delegate most of these and others to your advisors, such as your accountant, lawyer, financial advisor or charitable executive.

Have a happy and healthy 2016!