A charitable bequest of cash, securities or property allows your client to make a substantial gift for the future of healthcare without impacting their assets today.
They may choose to have their gift benefit a specific area of support within the Hospital, the Simcoe Muskoka Regional Cancer Centre, or the most urgent needs of the day.
When a charitable bequest is received, RVH Foundation issues a tax receipt to the estate for the full value of the gift. The resulting tax credit can significantly reduce taxes owing on your client’s final income tax return. If the total bequest exceeds 100 per cent of your client’s income in the year of death, any remainder may be carried back one year to recover taxes paid in the preceding year.
- This future gift will not impact your client’s assets today
- Upon death, the estate may receive tax relief up to 100 per cent of net income in the year of death, plus one year carry back
- Satisfaction for your client knowing their future gift will make a significant impact on healthcare needs in their community.
Your client may decide to make an unrestricted bequest for the most urgent needs, or a restricted bequest for a specific purpose of your client’s choosing from priorities which might include:
• Simcoe Muskoka Regional Cancer Program including our Cancer & Palliative Care Program
• Advanced Cardiac Care Program, Cardiac Renal Program, Intensive Care Unit
• Maternity & Neonatal Intensive Care Unit (NICU)
• Emergency, Diagnostic Imaging, Laboratory
• Medicine, Rehab & Acute Geriatrics
• Stroke Program, Women’s & Children’s Programs
• Child and Youth Inpatient Mental Health Program, Adult Mental Health & Addictions Program
Should your client be interested in providing support to an area not mentioned, please contact the Foundation.