Did you know that donating to bladder cancer patients and their loved ones could help you reach your financial or estate planning goals?
Legacy giving is more than a donation—it’s a way to leave a lasting impact. By including Bladder Cancer Canada in your plans, you can advance research, patient care, and awareness while benefiting from potential tax advantages.
Did you know that legacy giving, also known as planned giving, can help you reach your financial or estate planning goals while supporting bladder cancer patients and their loved ones?
Legacy giving is the process of donating to a charity for financial planning or estate planning purposes, either during a donor’s lifetime or upon their death.
By making a legacy gift, you create a lasting impact. You can support the future of bladder cancer by making charitable gifts through wills, life insurance policies, and other legacy giving vehicles.
Not only does legacy giving provide potential tax benefits, it will also provide long-term funding for lifesaving bladder cancer research, patient support, and awareness.
Bladder Cancer Canada can accept the following types of legacy gifts:
When you make a legacy gift, you may be eligible for significant tax benefits:
See CRA guidance here: Line 34900 – Donations and gifts – Canada.ca
Each province and territory offers additional tax credits, click here for details*.
Wondering about the real cost of your donation after federal and provincial tax credits? Click here!*
*Calculations are based on tax rates effective for the 2023 tax year.
Donating cash to Bladder Cancer Canada is one of the most common ways to donate during your lifetime and when leaving a legacy through your estate.
Advantages
Disadvantages
Example
Joan, an Ontario resident, left 10% of her estate to Bladder Cancer Canada. Her estate was valued at $475,000 before probate fees. After $20,000 in fees, $455,000 remained—resulting in a generous gift of $45,500 to Bladder Cancer Canada.
Assuming a net income* of $43,000 on the final taxes, a tax credit of $17,228.58 is received.
Using the 2023 Charitable Donation Credit Rate table, this can be calculated as:
*Note: up to 100% of net income can be claimed in the year of death.
By naming Bladder Cancer Canada as a beneficiary of a life insurance policy, or by transferring ownership of the policy to Bladder Cancer Canada, a gift can be made that has the potential to reduce overall estate fees as well as provide a tax credit.
Advantages
Disadvantages
Example
David, from Alberta, named Bladder Cancer Canada as the beneficiary of his life insurance policy.
Assuming a death benefit of $100,000 and a final year net income of $55,000, a tax credit of $27,550 will be received.
Using the 2023 Charitable Donation Credit Rate table, this can be calculated as:
Securities, such as mutual fund units or stocks, can be gifted in-kind directly to Bladder Cancer Canada. With a direct donation, you can avoid realizing capital gains and make the donation for the market value of the securities.
Disadvantages
Example
Derek, a Manitoba resident, chose to donate Canadian shares directly to Bladder Cancer Canada. He owned 300 shares purchased at $5 each, now valued at $13 per share.
If sold, the shares would create a $1,200 taxable capital gain before donating the $3,900. By donating the shares directly, Derek avoids the taxable gain and still receives the same $1,768.40 tax credit.
Using the 2023 Charitable Donation Credit Rate table, this can be calculated as:
You can help bladder cancer patients long-term by naming Bladder Cancer Canada as a beneficiary of a registered account including Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs), and Tax-Free Savings Accounts (TFSAs).
While gifted proceeds from RRSPs and RRIFs are included in the donor’s taxable income (as all proceeds from these accounts are), proceeds from TFSAs are not.
Advantages
Disadvantages
Example
Jessica, a New Brunswick resident, passed away with a final net income of $97,000. She named Bladder Cancer Canada as the beneficiary of her TFSA. At the time of her passing, the TFSA balance was $102,700.
This legacy gift generated a tax credit of $45,496.40, since up to 100% of net income can be claimed in the year of death.
Using the 2023 Charitable Donation Credit Rate table, this can be calculated as:
The information on this website regarding planned giving is for general purposes only and should not be taken as tax, legal, or financial advice. Be sure to consult a financial advisor before making any decisions.
Bladder Cancer Canada is the only national charity dedicated solely to bladder cancer awareness, research, and patient support. By choosing a legacy gift, you are making a meaningful commitment to the future of patients and families across Canada.
Ready to explore your options? Contact us today to learn how you can leave a lasting impact.
