Why Give at This Time of Year?

Woman holding a credit card and using computer, online shopping
by SalvationArmy.ca
Categories: Articles, Blog, Feature, Mobile, Newswire

If giving to charity is still on your list for 2020, it’s not too late. Holiday giving is not only a great opportunity to give a gift of hope to someone in need, it can have a practical purpose as well.

As the end of the year approaches, a gift to a qualified charitable organization, such as The Salvation Army, can be claimed against taxable income based on the income tax bracket a person is in. Not only do year-end gifts have tax benefits, it is fulfilling to know you are helping others.

“It’s heartbreaking to realize there are children and families who don’t have enough to eat—every day,” says Lt-Colonel John Murray, territorial secretary for communications. “There are thousands of Canadians struggling to make ends meet and can’t even afford basic needs.”

“88 cents of every dollar donated goes directly to help the vulnerable in your community”

When you donate to The Salvation Army, you help them provide services such as shelter for people experiencing homelessness, food for those who are hungry, English language skills for newcomers and recovery programs for people battling with substance-use disorders.

The Salvation Army provides several methods for donating, and 88 cents of every dollar donated goes directly to help the vulnerable in your community.

General Donations: General donations are simple and direct. You can make an unrestricted donation to be used where the need is greatest or designate your gift for a specific program.

Gifts of Securities: By donating a stock, bond or mutual fund directly to a charity, you avoid having to pay and capital gains taxes on their appreciated value. In addition to eliminating the capital gains tax, you also will receive a charitable tax receipt for the market value of the shares when received in the Army’s bank account.

This year has been challenging and uncertain for thousands of Canadians and there is still time to donate. Your generosity will not only help to improve the lives of some of the most vulnerable in society, your own financial situation will be strengthened.

Thank you for doing what it takes to make a difference—and together what a difference we can make!