A gift annuity may be an ideal way to support medical research now and increase your after tax income for life.
Here’s how it works. DMRF uses a portion of your contribution to purchase an annuity from a major Canadian insurance company generating an annual payment for you that is guaranteed for life. Often the annual payment is much higher than you would receive through bonds or GIC’s.
The difference between your contribution and the cost of the annuity is immediately available for medical research at Dalhousie Medical School and you receive a one-time tax receipt for this amount. A large portion, and sometimes all, of the annuity payment will be tax free.
Your annual payment rate will depend upon whether you are male or female and your age at the time the gift is arranged. The older you are the higher the annual payment.
Examples
Female age 78
| $100,000 | $25,000
| $7,605 (10.14%)
| $7,281
|
Male age 75
| $50,000
| $15,000
| $3,826 (10.93%)
| $3,271
|
Please note: The above examples are for illustration purposes only. Rates will vary.
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