According to Pricewaterhouse-Coopers, this is how the tax change works. Instead of 66.67 per cent of the capital gain being taxable, only half of that, or 33.33 per cent is subject to tax. That makes the effective top marginal tax rate on the gain close to 15 per cent. That's half the regular capital gains rate, which varies from province to province. Plus, you keep your full tax credit.
Community foundations operate with that active donor in mind.
And he says he found it at the Toronto Community Foundation. Five years ago, he set up a fund for his parents and siblings. The fund was started to serve his parents' charitable activities, including donations to the Catholic church, hospitals and services for children and seniors. And since then, there have been a number of things that have come along that we've been involved with. The Higgenses have grown their fund to more than a million dollars.