We hope you will take the time to read our message this month. We believe that our message is important to you and to the Harmonize For Speech Fund.

Bequests to the Harmonize For Speech Fund

A bequest in your will is a thoughtful way of offering significant support to the Harmonize For Speech Fund. Your gift may create a significant legacy in your name while providing tax benefits to your estate.

Bequests left restricted to the Harmonize For Speech Fund for a specified purpose will be added to the fund in the donor’s name and used only for that purpose.

Bequests left unrestricted will be taken to the Board of Trustees for discussion as to the appropriate use of the funds in the donor’s name.

Here’s what you need to know

  • A charitable donation can dramatically reduce the donor’s tax bill.
  • The tax bill is reduced by almost 1/2 of the donation’s value (we use 45% here).
  • A gift of $100,000 will reduce a tax bill by about $45,000. The savings differ by province.
    This is probably the simplest way to save big money on taxes.

    Example – Tax Deduction on $50,000 income
    * Tax deduction reduces Taxable Income.
    * RSP contribution of $5,000 reduces Taxable

  •   Income to $45,000.
    * Tax bill is calculated on $45,000.

    Example – Tax Credit on $50,000 income
    * Charitable gift generates a tax credit.
    Tax credit reduces tax owing AFTER the tax bill   

  •    is calculated.
    * Does not impact taxable income.
    * Tax bill is calculated on $50,000 and    
  •    then REDUCED by amount of tax credit.

    You should always check with your tax consultant or lawyer for your personal situation.