Charitable Giving - Do What is Right and Beware the Rest

Too many people are lured by the promise of gifts for giving.  Here is the latest release from Canada Revenue Agency

Canada Revenue Agency Advice

Our View, as published in the Toronto Sun, November 04, 2012

An Independent View

Ted Wernham, a former member of city council, is a wealth coach who provides
financial and income management advice, including how to save taxes. He operates
Wernham Wealth Management in Byron, Ont.

He declined to comment on any particular tax shelter.

"We don't participate in these schemes," Wernham said. "In fact, we warn
people about these schemes."

The Canada Revenue Agency decision to audit participants in them "is
righteous and valid."

"The old story about something too good to be true usually is," Wernham said.
"If the motivation is greed, rather than good, it is probably bad."

He said he worries about the effect on legitimate, long-standing charitable
organizations such as Foundation London, the Salvation Army and the Poppy
Fund.

"People shouldn't think that charity has become a bad word."

 

 

 

Ted Wernham
Ted Wernham
Ranked # 1 in London by MDRT, the Premier Association of Financial Professionals. retirement income manager, Host Retirement Ready! Radio on AM1290 Ted Wernham