The expression “planned gift” designates “any gift that is the result of financial , tax, or estate planning”. Smart and advantageous from a tax perspective, planned giving contributes significantly to the continuity of the work and development of non-profit organizations like the MIRA Foundation. Whatever the amount, your donation makes a difference.
A planned gift is an excellent way to fulfil your philanthropic ambitions while allowing your heirs to benefit from a significant tax advantage. Whether you choose to give through a legacy gift, through life insurance, annuity or charitable trust, the gift of eligible securities or stocks , etc., a planned gift significantly reduces the taxes paid by your heirs on your estate.
Make a difference now by supporting the MIRA Foundation in carrying out its humanitarian work.
Well-structured and taking into account your personal, family, and fiscal situation, a planned gift allows the donor and his or her heirs to make a perennial contribution to the MIRA Foundation, while benefiting from substantial tax savings. For more information on the tax advantages, consult this brochure published by the Canada Revenue Agency.
The legacy gift
The bequest is the most simple form of planned gift to give. Registered in your will, the bequest expresses your desire to donate a fixed amount, a percentage of the value of your estate, real estate or possessions to the MIRA Foundation. The legacy gift also benefits your heirs because it significantly reduces the tax payable on your estate. If your financial situation changes before your death, you can change your will at any time.
Donating through your life insurance
You can designate a charitable organization as the beneficiary of the death benefits of your life insurance policy. This is a simple and flexible way to give a significant gift to the MIRA Foundation. If you no longer require the protection offered by your life insurance policy, you can transfer ownership to the MIRA Foundation, while continuing to pay the premiums, if applicable. You will receive a tax receipt corresponding to the fair market value of your policy and another receipt each time you pay your premium. If you want your estate to benefit from this tax advantage, you may also designate the MIRA Foundation as the beneficiary of your policy, while retaining ownership of it. This way, your donation will be given upon your death and the tax savings will be applied in the settlement of your estate.
The gift of securities or eligible stocks
The gift of securities involves disposing of one or more of your shares, securities, mutual funds, publicly traded securities or obligations to donate to the MIRA Foundation. The transfer of securities may be done electronically. Any capital gain resulting from the donation is tax exempt.
The gift of real estate
It is possible to donate property to the MIRA Foundation. You can enjoy the property until the moment of your death, and you will receive a tax receipt corresponding to the commuted value of the property at the time of donation. If you make a gift of real estate that is not your principal residence, 50% of the capital gain is taxable.
The establishment of a charitable trust allows you to donate a large sum to the MIRA Foundation. You will continue to receive income from the capital sum transferred and you will receive a donation receipt. The role of the trust is to administer the capital that you provide, capital which will be granted to the MIRA Foundation upon your death.