Gifts That Reduce Your Taxes

By naming The Princess Margaret Cancer Foundation as a beneficiary of your retirement savings plan (RRSP), registered retirement income funds (RRIF), Tax-Free Savings Account (TFSA), mutual funds, life insurance, or another financial account, you may be able to reduce taxes on your income and your estate, possibly leaving more for your loved ones.

Your RRSP and RRIF are considered income and are taxed quite heavily at the time of your passing.  By designating The Princess Margaret Cancer Foundation as a beneficiary of your retirement funds, your estate will receive a charitable income tax receipt to offset taxes owed.  The gift goes directly to the charity, so probate and Executor fees are not applied.

A gift of life insurance lets you support The Princess Margaret’s compassionate care and advance cancer research in a significant and meaningful way. By paying modest life insurance premiums today and naming The Princess Margaret Cancer Foundation as a beneficiary, you can make an impactful gift that will help conquer cancer for future generations.

One way to make this gift is to assign The Princess Margaret Cancer Foundation as the beneficiary of your own policy or the life insurance policy from an employer. Your estate will receive a tax receipt equal to the direct benefit to The Princess Margaret. In this way, you will create your legacy of compassion and benefit your heirs through a significant tax reduction.

A second option is to purchase a new policy, name The Princess Margaret Cancer Foundation as owner and receive tax receipts, during your lifetime, for any premiums paid after the transfer of ownership.

You can use stocks, bonds and mutual funds that have appreciated in value to provide compassionate care and accelerate cancer research. You will receive a charitable income tax receipt for the full market value of the stocks on the day they are received in our account, PLUS you will pay no tax on the capital gain.

Click here for instructions to give your broker.