While caring for her ailing father, Lorna experienced first-hand the gaps that exist within seniors' health care, particularly for patients with dementia.
Real estate & personal property
Many Canadians, especially those of us in B.C., have seen tremendous growth in real estate value in recent years. Investment in your primary residence can grow without the tax burden of capital gains, and your primary residence can be passed on to theirs without taxation. However, this is not the case for investment properties and vacation homes.
The option to make a gift of real property is a chance to make a significant impact at SFU, as well as avoid paying taxes on gains when selling vacation homes and investment properties.
You can transfer ownership of your property (real estate, works of art, personal collections etc.) as a donation to SFU, and receive a fair market value receipt for tax purposes now or to be used in your estate planning. Additionally, gifts of residual interest may be considered in which you may retain the use of the property during your lifetime.
Benefits to you
- Immediate tax savings
- Continued use of your property for your lifetime
- Satisfaction of knowing SFU will benefit from your gift in the future
- Your gift passes to the university outside of the estate process, thus reducing your estate probate taxes