Dividing Your Estate
Value of your estate after debts are paid	$
Amount your estate may owe in taxes	$
Amount you wish to leave for charity	$

Results
Dividing your estate among charities, taxes and loved ones: Amount charity would receive: $ Amount government would receive: $ Amount left over for your loved ones: $
Dividing your estate among taxes and loved ones only: Amount government would receive: $ Amount left over for your loved ones: $

• Your estate has made at least $200 in donations already, in the same tax year
• Your estate is resident in Alberta for tax purposes
• Your estate is able to make full use of the charitable tax credit
• A charity is named as a beneficiary in your will, RSP/RIF or insurance policy

Notes:

• The non-refundable charitable tax credit may be deducted from your income tax, to reduce taxes you may owe. The “after-tax cost of your donation” is the amount of your donation minus the maximum charitable tax credit (50%)
• The maximum charitable tax credit (for donations over $200) is 50%. It is a combination of the federal tax credit (29%) and Alberta charitable tax credit (21%)
• The first $200 of donations is eligible for a lesser (25%) charitable tax credit.
• The charitable tax credit may be claimed for donations of up to 75 per cent of your net income in the year, and may be carried forward for the next five years. This limit increases to 100 per cent of net income in the year of death and the preceding tax year.
• Your donation may be affected by other factors such as donation limits, timing and nature of the gifted asset. Consult a professional advisor or visit http://www.cra-arc.gc.ca/tx/chrts/dnrs/svngs/ for more information

This information provided is general in nature, does not constitute legal or financial advice, and should not be relied upon as a substitute for professional advice. We strongly encourage you to seek professional legal, estate planning and/or financial advice before deciding upon your course of action.