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How Best To Donate Money This Year

'Tis the season of giving! And in that spirit, Hillsdale hosted its second personal finance webinar: How Best to Donate Money This Year.

The panelists, Chris Guthrie and Amit Goel, started off with information on charitable landscape in Canada and with some thoughts on Giving Philosophy.

The main part of the presentation highlighted five scenarios and matched them with specific donation strategies:

  • Scenario 1: Investment portfolio with High Capital Gains: ‘In-kind’ Donations
  • Scenario 2: Hold Co / Prof. Corp. with Surplus Funds: Use of Capital Dividend Account
  • Scenario 3: Not utilizing Minimum RRIF Withdrawals: Donate RRIF directly
  • Scenario 4: Estate With Fully Taxable RRSP/RRIF: Designate charity as the beneficiary
  • Scenario 5: Substantial Tax Bill in a High-Income Year: Donor-Advised Fund, Private Foundation

The audience participated and contributed with live online polls and live Q&A session.

In the end, Hillsdale shared one of its investment strategies suited for donors looking to invest in lumpsum and donate a portion of the portfolio every year.

A video recording of the webinar is available here.

If you are interested in further information, or a copy of the presentation, please contact Amit Goel at agoel@hillsdaleinv.com / 416-913-3944.