Diocese of Saskatoon

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What are the tax advantages of a charitable gift annuity?

With a gift annuity, you can claim part of what you contribute to fund the annuity as a tax deduction and part of the income you receive each year is tax-free. Additionally, if you fund the annuity with an appreciated asset- such as stock, art, a car, a house or building- you also escape some of the capital gains tax that you would owe if you had sold the asset.