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Inside Internal Controls

News and discussion on implementing risk management

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Paving the road to hell – donating the proceeds of private company shares and real estate

In its last annual budget, the Federal Government announced that proceeds from the sale of private company shares and real estate would be free from tax if donated to charity. That is pretty much all they said on the subject…

 

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Balancing confidence and flexibility in gift planning

One of the unstated pillars of gift planning is to find ways of assuring a donor that his/her wishes will be carried out after death. Unfortunately, this can be a double-edged sword. While it may help convince a donor to give now the future needs of a charity can be difficult to anticipate. Consequently, it is important to balance flexibility with respect for the donor’s wishes when discussing gift planning arrangements.

 

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Assessing charities: Cause and outcome

Your Estate Planning process is underway. You know that you want to provide for a charity in your Estate Plan, but you have no particular affiliation with any charity. You do, however, have one criteria… you want to make sure that your dollars end up with a charity that uses it in the most efficient manner, making the best use of your hard earned legacy. How do you decipher which charity gets the most dollars to its end beneficiary? Essentially where do you get the most “bang for your buck”?

 

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Charities: When opportunity knocks… Should they even open the door?

Charities are like any other actors in society, opportunities arise and they should be considered. Some will be discarded and others will be pursued. For charities though, the evaluation of opportunities must be made with the additional consideration of the constraints placed upon charities from normal economic operation. One interesting opportunity which lucky charities face now and again are large, and often unexpected, gifts in kind.

 

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Charitable receipting can be a charity’s achilles heel

The story of Achilles comes to mind in thinking of the approach most charities take toward formatting their receipts. The recent Afovia v. The Queen, 2012 TCC 391 case being the most recent instance

 

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