Gift of Property, Trust & Annuities
Gift of property:
Real estate or other assets can be an attractive way to make a substantial gift to Crohn’s and Colitis Canada with significant tax benefits. You can give the property outright, place it in trust to retain the use of it for life, or gift it by will.
Charitable gift annuity:
This allows you to make a gift to Crohn’s and Colitis Canada, while at the same time securing guaranteed income for life. An annuity consists of two parts: a gift to Crohn’s and Colitis Canada for which you receive a tax receipt, and a guaranteed stream of income for you and your surviving partner.
A minimum of $50,000 is transferred to Crohn’s and Colitis Canada. At least 20 per cent is counted as an immediate donation to Crohn’s and Colitis Canada, for which you receive a tax receipt. The remainder is used to purchase an annuity from an insurance company providing a guaranteed income.
Charitable remainder trust (CRT)
A CRT is a life income gift that enables you to give today and receive immediate tax savings, while retaining use of the asset.
Essentially, you transfer a property like real estate, investments, or artwork into a trust to be managed by a trustee (a financial institution, a lawyer, yourself, or other individuals). You name Crohn’s and Colitis Canada as the remainder beneficiary in trust and keep an interest in the property for the rest of your life. After a prescribed period of time, or upon your death, the asset is transferred to Crohn’s and Colitis Canada. This allows you to use the property or receive income from it during your lifetime, while receiving a tax receipt you can use today.