When considering a donation, the most common method by which Canadians give are cash gifts.

Advantages:

• For many individuals, there are a number of immediate advantages to donating cash, it is easy to provide.
• Little planning is required and the T&DH Foundation receives an immediate benefit. 

Other positive attributes of cash donations include:

Donor:       

• No costs are incurred to make the donation.
• There is no obligation to commit future resources to the charity.
• The donor receives a tax credit that can be used in the current year or carried forward to a future year.

T&DH Foundation:

• It obtains immediate access to funds.
• The nature of the gift is “liquid”.

Drawbacks:

For individuals looking to donate larger amounts, or who wish to leave a lasting legacy after their deaths, you might want to consider a more planned approach.  By doing so, the donor can ensure they maximize the benefits to the charity, while receiving significant tax and estate benefits of their own.

The amount an individual may claim in charitable donations for any given year is limited to 75% of his or her net income for that year but the excess can be carried forward into future years.