Gifts That Reduce Your Taxes

Cash is the simplest asset to donate and the quickest way to make an immediate impact for SickKids. If you want to further our work today and claim the entire amount of your gift as a charitable income tax deduction, consider a gift of cash. Make your gift online, via a cheque or money order, or with a wire transfer.

Making a legacy gift in your will or trust is one of the easiest and most popular ways to make a lasting impact for SickKids. Once you have provided for your loved ones, we hope you will consider making compassionate, specialized care for children part of your life story through a legacy gift.

When you give stock or securities (stock, bonds, mutual funds), you may be eligible for a double tax benefit: 1) You receive an income tax deduction for the full, present, fair market value of the assets and 2) you may completely avoid capital gains tax on the appreciation of the assets. This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals. 

Transfer ownership now:

To make an impact on our mission today, irrevocably designate SickKids as owner and beneficiary of an existing life insurance policy. If your policy is paid up, you will receive an immediate income tax deduction based on the policy value.

If your policy is not yet paid up, you will make contributions of cash to SickKids to cover future premium payments. For any continuing premium payments you make, you will receive a charitable deduction in the year of the payment.

Name us as a beneficiary:

With this gift arrangement, SickKids will receive the proceeds of your policy when you pass away and issue a tax receipt for your estate for the death benefit. You can change your beneficiary at any time.

This gift is easy to arrange — simply request a beneficiary designation form from your plan administrator.

A gift of your retirement assets, such as an employee retirement plan, RRSP, RRIF or tax-sheltered annuity is an excellent way to make a gift. A gift of these assets can shield you or your heirs from taxes while funding SickKids.