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Canadian Charity Trusts -

QUESTION: Do you recommend or can you comment on Canadian Humanitarian
Trust, please.
=============================================
david ingram replies:
I would not touch it but have no time to spend on it.
GOTO http://forums.beyond.ca/showthread/t-69639.html and read what it has to
say.
Then Goto
http://forums.canadianbusiness.com/thread.jspa?threadID=85&tstart=0 and
start reading back up from the bottom.
The following is another answer I gave previously
You may find it useful
-------------------------
David
My question is: Canadian-specific
QUESTION: How do feel about an organization such as Universal Fund Trusts
based in Markham Ont who charitable tax receipts of $5000 for each $100
donated? Is this allowed in the Canadian income tax act. Whom would you
recommend in the Kitchener- Waterloo Ontario area?
Thanking you in advance
---------------------------------------------------------------------------
david ingram replies:
I would not touch the Charity deal with a ten foot Pole or an eleven foot
Englishman.  There are a whole bunch of these charitable schemes set up and
the CRA shut most of them down a year and a half ago.
A charitable deduction should represent the invested funds and although
giving stale
dated drugs or revalued artwork may be a legitimate venture on a one time
basis, they do not stand up to scrutiny when peddled by a bunch of boiler
room people.
There are things that people miss however.  For instance, if you owned stock
or land or mutual funds and wanted to give money to your favourite charity,
the best way is to give the actual land, stock or mutual funds.  A little
known fact in the tax act, cuts your tax in half on any capital gains when
you give the actual stock, etc., to your charity. This is really important
when it comes to estates and wills.
Sorry, I do not have anyone to recommend in the Kitchener Waterloo area
although I know it reasonably well having attended the University of Guelph
a way back when.
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