Charitable Gift Annuities
What is a Charitable Gift Annuities?
A Charitable Gift Annuities is a gift where you receive a regular income for life in exchange for your contribution, providing you with financial security while supporting Mission inclusion.
What is a Charitable Gift Annuities?
You get a competitive rate which will remain fixed once the contract is signed.
You will receive a tax receipt for at least 20% of the capital in the year you purchase the annuity.
Your annuity income will be virtually tax free.
You will have the peace of mind of a stable income while helping the most disadvantaged.
Upon your death, the remaining funds will go to Mission inclusion to support the priorities you selected.
Mission inclusion has been administering its own life annuity fund for over 40 years with the help of a committee of volunteers with deep financial expertise. This means that 100% of your capital and the interest generated remains in the hands of our Foundation, instead of going to a financial institution, and is directly invested in the
projects you support.
Mission inclusion has been administering its own life annuity fund for over 40 years with the help of a committee of volunteers with deep financial expertise. This means that 100% of your capital and the interest generated remains in the hands of our Foundation, instead of going to a financial institution, and is directly invested in the projects you support.
Here is an example that demonstrates
a charitable gift annuity
1 Mr. Goode inherited $50,000 and has decided to use it to take out a charitable life annuity with Mission inclusion.
2 His age on September 1, 2021 was 77. The rate, based on his age and the amount, is 7.2%. It will therefore pay him a tax-free annual income of $3,600 ($300 per month).
3 Mr. Goode chooses to receive the income on the 15th of each month and the money is deposited directly into his account.
4 He also receives a tax receipt for $10,000 when he buys the annuity, since 20% of the capital invested is considered a charitable donation. Mr. Goode has always been concerned about homelessness, so he has asked that the donation be allocated to projects in this area.
Here is an example that demonstrates
a charitable gift annuity
1 Mr. Goode inherited $50,000 and has decided to use it to take out a charitable life annuity with Mission inclusion.
2 His age on September 1, 2021 was 77. The rate, based on his age and the amount, is 7.2%. It will therefore pay him a tax-free annual income of $3,600 ($300 per month).
3 Mr. Goode chooses to receive the income on the 15th of each month and the money is deposited directly into his account.
4 He also receives a tax receipt for $10,000 when he buys the annuity, since 20% of the capital invested is considered a charitable donation. Mr. Goode has always been concerned about homelessness, so he has asked that the donation be allocated to projects in this area.
Our answers to your questions
Why are the life annuity rates higher for men than women?
The life annuity rate is set according to the person’s life expectancy. According to Statistics Canada, women live longer than men. As a result, the life annuity rate offered to a man will be higher than that provided to a woman of the same age.
Why don’t I receive a tax receipt for the entire capital transferred when I take out a charitable gift annuity?
When you take out a charitable gift annuity, you give up a significant amount of capital to Mission inclusion, but in return, you receive a stable income for life. Revenue Canada and Revenue Quebec do not consider this type of donation to be 100%. The tax receipt is then calculated based on the capital given up and the cost of a similar annuity on the market. It is in the order of at least 20% of the capital.
How can the Mission inclusion charitable annuity help me financially?
You transform your capital into a stable income for life. If market conditions fluctuate, this annuity income will not change for the rest of your life. Your wallet will never be empty. It’s a great way to enjoy life while contributing to solidarity efforts to build a better world.
Will the annuity rate change in the coming years?
Annuity rates vary depending on market conditions. But the day you take out a charitable gift annuity with Mission inclusion, the issued annuity rate is fixed for the rest of your life and will never change.
Why is the life annuity tax-free from the age of 75?
The taxable portion of life annuity payments is calculated based on your life expectancy. Since life annuity rates have been dropping slightly recently, donors can collect a tax-free life annuity at a younger age than before, starting at 75.
Should I include annual annuity income in my tax return?
You must report only the taxable portion of the annuity and not the total amount received on your income tax return each year. You will receive from Mission inclusion a T4A slip for your federal tax and a Relevé 2 for your provincial tax. If your annuity is non-taxable, you will not receive tax slips, and you will not have to declare anything.
Our answers to your questions
Why are the life annuity rates higher for men than women?
The life annuity rate is set according to the person’s life expectancy. According to Statistics Canada, women live longer than men. As a result, the life annuity rate offered to a man will be higher than that provided to a woman of the same age.
Will the annuity rate change in the coming years?
Annuity rates vary depending on market conditions. But the day you take out a charitable gift annuity with Mission inclusion, the issued annuity rate is fixed for the rest of your life and will never change.
Why don’t I receive a tax receipt for the entire capital transferred when I take out a charitable gift annuity?
When you take out a charitable gift annuity, you give up a significant amount of capital to Mission inclusion, but in return, you receive a stable income for life. Revenue Canada and Revenue Quebec do not consider this type of donation to be 100%. The tax receipt is then calculated based on the capital given up and the cost of a similar annuity on the market. It is in the order of at least 20% of the capital.
Why is the life annuity tax-free from the age of 75?
The taxable portion of life annuity payments is calculated based on your life expectancy. Since life annuity rates have been dropping slightly recently, donors can collect a tax-free life annuity at a younger age than before, starting at 75.
Should I include annual annuity income in my tax return?
You must report only the taxable portion of the annuity and not the total amount received on your income tax return each year. You will receive from Mission inclusion a T4A slip for your federal tax and a Relevé 2 for your provincial tax. If your annuity is non-taxable, you will not receive tax slips, and you will not have to declare anything.
How can the Mission inclusion charitable annuity help me financially?
You transform your capital into a stable income for life. If market conditions fluctuate, this annuity income will not change for the rest of your life. Your wallet will never be empty. It’s a great way to enjoy life while contributing to solidarity efforts to build a better world.
OUR CURRENT ANNUITY RATES*
AGE
65
70
75
80
85
WOMEN
5,16 %
5,84 %
6,80 %
8,14 %
8,53 %
MEN
5,50 %
6,32 %
7,48 %
8,95 %
8,99 %
* Our annuity rates vary according to market conditions (december 2024) and are based on a ceded principal of $50,000.
OUR CURRENT ANNUITY RATES*
65 5,16 % 5,50 %
70 5,84 % 6,32 %
75 6,80 % 7,48 %
80 8,14 % 8,95 %
85 8,53 % 8,99 %
* Our annuity rates vary according to market conditions (december 2024) and are based on a ceded principal of $50,000.
Do you know all the types
of planned giving?
There are many types of planned gifts. They all allow you to perpetuate your values and continue to improve the world for the most disadvantaged, while enjoying attractive tax benefits.
Stay informed about our news
Subscribe to our monthly newsletter
Jules and Paul-Émile Léger Foundation
© 2019-2025 The Léger Foundation. All rights reserved.