06 Dec 2016
Sylvain Moreau

Sylvain Moreau

The real cost of charitable donations

Sylvain Moreau, Tax Partner at Raymond Chabot Grant Thornton, is now a columnist for the Journal de Montréal and the Journal de Québec. His first column on charitable donations was published December 1, 2016 in these two major Québecor newspapers. You can read his regular column in the Argent – Dans vos poches (Money in your pocket) section. Here’s an excerpt of the article:

Many organizations ask us to contribute to their fundraising campaigns for numerous, varied causes. While all of the causes may be worthy, we are instinctively drawn to those that particularly hit home.

For the usual emotional reasons, we let ourselves be convinced to make a charitable donation to these organizations without really thinking about the true cost of our action.

Since the amounts are not necessarily significant, the whole point is not to reduce our taxes but rather to contribute to the cause. But are you truly aware of what your donation is costing you? Would this information encourage you to give more? Let’s take a closer look!

Planning is worth the effort

Since your donation qualifies for a federal and provincial credit, this can indeed significantly decrease your tax bill. So charitable donations could be worth it. It gives back on two levels: contributing to the cause you’ve chosen and reducing your tax bill. A charitable donation made while you’re alive can also be an important component in your estate planning.

Planning donations can be very useful for reducing the tax impacts on death. Let’s try and determine the real cost of your donation as well as any benefits it can have on your tax bill… Read the rest of the article (in French only) also published on the Journal de Montréal website.

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02 Dec 2016

Les affaires (3 décembre 2016) - CouvertureRaymond Chabot Grant Thornton is proud to have contributed to the Les Affaires special feature (December 3, 2016 edition) on the accounting profession. In two major articles and an advert, President and CEO, Emilio B. Imbriglio, Partner and Assurance Leader, Pierre Garant, and Assurance Partner and Women of Talent Network Leader, Mélanie Boyer, shared their extensive experience on the issues shaping the accounting profession and what the future holds.

Whether it be technologies (digital technology for businesses or blockchain technology), strategies to promote the role of women or the accounting profession per se, that, today, has taken on a business advisor role, there is no denying that Raymond Chabot Grant Thornton is at the heart of the activities of dynamic local businesses and a partner of choice in their success.

file-pdfConsult the special feature

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30 Nov 2016

Éric Dufour, Vice-President of Raymond Chabot Grant Thornton’s Saguenay—Lac-Saint-Jean/Chibougamau/Côte-Nord region and National Business Transfer Leader, has five key tips to offer for ensuring an efficient business transfer.

In a context where numerous businesses will soon be changing hands, the succession plan remains by far the best scorecard for completing a successful transition. In addition to this key element, Éric examines other strategies to consider in order not to hit a wall once the transaction has been concluded.

Read the article in La Presse

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28 Nov 2016

The outcome of the U.S. presidential election is now known: Donald Trump will assume the presidency of the United States for the next four years. It is easier to foresee the tax modifications that could be implemented by the new U.S. president.

This document discusses the main electoral promises put forward by President Trump during the campaign.

For individuals, tax reductions are to be expected for all taxpayers. The alternative minimum tax would also be abolished, along with the 3.8% Obamacare Tax. Estate tax would also be replaced by a tax on added values applicable in cases where the deceased’s estate is greater than US$10M. For companies, the tax payable on profits repatriated from foreign companies would be limited to 10% and the alternative minimum tax would also be abolished. However, the generous domestic production activities deduction would be withdrawn.

Taxation: Trump and Canadians doing business in the United States (Raymond Chabot Grant Thornton)

file-pdfRead the PDF document [Version with tax rates in effect in Quebec]


file-pdfVersion with tax rates in effect in Ontario (document available in English only)