Like most Canadians, we are active supporters of charitable organization in our community.

 

As we get older and accumulate wealth, charitable giving is a way of sharing some of that wealth. Although there is no single right way to give to charity, there are ways to make your financial support more effective.

Find something that you believe in or are passionate about. There is no limit to the number of causes and organizations that can use your donations to make a difference. Perhaps you value books and reading, and would like to help literacy groups. Or maybe you want to support research into the cure for a specific disease. Giving to a cause you truly believe in will help turn your support into a lifelong commitment and give you the most satisfaction.

Make it automatic

Consider making charitable donations on a regular basis. Select an amount you can manage and then have it come out of your bank account on a monthly basis. Most registered charities can set this up for you. You might want to start small and then contribute more over time. More importantly, regular donations help charitable organizations plan their own activities and make it easier for them to respond quickly to emergencies.

Keep good records

To encourage Canadians to give more, the federal government provides tax credits for donations to registered charities. The first $200 donated receives a federal tax credit of 16%; amounts over $200 get a 29% credit.