• Facebook
  • Instagram
  • Twitter
  • LinkedIn
info@reginalegion.com | 306.522.2676
Royal Canadian Legion Regina
  • About
    • Our History
    • Our Partners
    • Governance
  • Facilities
  • Services
    • VAC Assistance
    • Financial Assistance
    • Homelessness
    • Outreach & Visitation
  • Education
    • Poppy Campaign
    • Youth Education
    • Bursaries
  • Events
  • Get Involved
    • DONATE
      • How Your Donations Help
      • Donate Funds
      • Donate Securities
      • Legacy Gift
      • Order a Wreath
    • JOIN FORCES
      • Contact Us
      • Memberships
      • Volunteer
      • Ladies Auxiliary
  • Menu Menu

Gift of RRSPs and RRIFs

Registered Retired Savings Plans (RRSP) and Registered Retirement Income Funds (RRIF) are important tools when planning for your secure future.

We encourage you to give at the time you feel most comfortable. Your gifts to the Legion are always welcome and greatly appreciated, but there are different benefits to your donation depending on when and how you give.

Benefits of Giving Now

  • The charitable tax credit offsets the tax on the withdrawal.
    A significant charitable gift can be made while reducing the tax burden on the withdrawal through your charitable tax receipt for the gift amount.
  • Giving RRSPs/RRIFs in combination with a gift of stock:
    This is an appropriate planning vehicle for individuals who have other assets (e.g. stocks, GICs, bonds, etc).

    • The donor pays no tax on the capital gain on the stock.
    • The donor receives a charitable tax credit for the full value of the stock gift.
    • The tax credit offsets the tax on the RRSP/RRIF withdrawal, giving the donor the full money withdrawn.
  • Probate and executor N/A.
Please note: There is a Revenue Canada withholding tax that applies. Under $5,000 it is 10%; up to $15,000 it is 20%; over $15,000 it is 30%. Therefore careful planning is required to realize the charitable gift that the donor desires to make.

Benefits of Giving Later

  • The charitable tax credit helps offset the burden on your Estate.
    The tax burden can be considerable for registered funds such as RRSPs and RRIFs. When you die, it is as if you cashed in your asset all at once and it is added to your taxable income. Your Estate could then be taxed at the highest income rate.
  • You can continue to access and use your asset for the rest of your life.
    The eligible gift receipt will be the value of the asset at your time of death.
  • Giving RRSPs/RRIFs in combination with a gift of stock:
    This is an appropriate planning vehicle for any individual with RRSP/RRIF assets.

    • The donor pays no tax on the capital gain on the stock.
    • The donor receives a charitable tax credit for the full value of the stock gift.
    • The tax credit offsets the tax on the RRSP/RRIF withdrawal, leaving the donor with money realized from the withdrawal.
  • No probate fees because it does not go through your Estate.
    You can name your beneficiaries directly on your RRSP/RRIF. (Can be left to multiple beneficiaries.)
  • No executor fees.
  • No Revenue Canada withholding tax on death.
  • Planning Your Legacy Gift
    • Wording for Your Will
    • Gift of Charitable Remainder Trusts
    • Gift of Life Insurance
    • Gift of Property
    • Gift of RRSPs and RRIFs
    • Legacy Giving FAQs
  • Donate Today

Phone: 306.522.2676
Email: info@reginalegion.com

1820 Cornwall St. Regina, SK, S4P 2K2

Contact Us Donate www.legion.ca
Scroll to top
en English
en Englishfr French