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You are here: Home / Can I Gain Additional Tax Income Benefits by Using a Charitable Remainder Trust? | Sponsored by Spire Advisors

Can I Gain Additional Tax Income Benefits by Using a Charitable Remainder Trust? | Sponsored by Spire Advisors

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You may be eligible to receive an income tax deduction, but this will depend on whether or not your trust’s beneficiaries are CRA-qualified charities.

If an income tax deduction occurs, this will happen at the time you make your gift to the trust – and the value of that gift will determine the amount of the deduction. This amount (which is basically a percentage of your gift) can be determined by a number of factors:

• Type and value of the asset that is gifted
• Income of the donor (*in most cases)
• Life expectancy of the person(s) receiving income from the trust
• Payout rate selected in the trust
• and more…
 
If you have any questions about gaining additional income tax benefits by using a Charitable Remainder Trust, reach out to one of our advisors in Powassan, Parry Sound, Orillia, North Bay or Huntsville, today.

Spire Advisors of Assante Capital Management Ltd. 
Visit: www.spireadvisors.ca

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