Think Local  

It’s never a bad time to give to charity, and this is why that makes sense

Never a bad time to give

It’s been another challenging year in many aspects. On the one hand, the changing economic conditions have us wanting to be more conservative with our spending. For many, concerns about taxes, inflation or rising interest rates might impact decisions about charitable giving. At the same time, the holidays are typically a time when many of us want to give to support worthy causes in our community. As a board director for the KGH Foundation, I know first-hand the impact that your support has directly on Kelowna General Hospital and on health care right here in our community.

So what can you do?

Do well by doing good

The answer is: It’s never a bad time to give to charity. There are many financial benefits for donors and investors, despite what the markets may be doing in any given moment. And the silver lining is you can always do well by doing good.

Here are three approaches that may help to reduce your income taxes, while making an investment in the future of our community’s health care:

1. Despite recent market declines negatively impacting portfolio values for many investors, you might still own some publicly traded securities that are worth more now than when you bought them.

By gifting such stocks to the KGH Foundation, you can take advantage of Canada Revenue Agency’s exemption on capital gains tax for donations. Two loyal KGH Foundation donors recently applied this strategy to their annual giving plans.

“We know this isn’t a great time right now with the markets being down and the economy struggling,” they said. “But it’s important to keep giving to our hospital. We all need the care.”

Take advantage of a capital loss

2. Make losses work for you. If you own stocks that are currently in a loss position, donating these shares in-kind may improve your financial picture. Provided your investments meet CRA-approved cost basis methods, this scenario may also work for donations of cryptocurrencies.

You can also sell an investment whose value has gone down, create a capital loss, and donate the cash—with no taxes payable on that investment and the added ability to reduce your overall tax bill with a charitable donation deduction. For incorporated clients, extra care is needed to first clear out any balance that may be held in the corporate capital dividend account.

Capital losses can be carried back up to three years and carried forward indefinitely to offset capital gains realized on specific assets including non-registered investments, recreational and rental properties, and private company shares.

In addition, you have a charitable receipt in hand to claim the donation amount against your net annual income, in the current year or in one of the next five years.

Benefits to estate planning

3. You can gain peace of mind when you plan your estate now, yet far too many continue to put it off. Acting now helps to ensure your intentions will be fulfilled in line with your goals. Pre-planning can also assist with reducing the taxes on your estate.

For example, naming a charity like the KGH Foundation as the direct beneficiary of an RRSP or RRIF account transfers ownership of the plan upon your death. Probate fees may be avoided since the transfer happens outside of your will, and a large tax liability for your estate can be offset with the donation receipt.

For many, giving just feels right

In this season of giving, no matter what the market is doing, a gift to support the health and well-being of our community is not only deeply appreciated by the charities that benefit, it also feels right.

Giving to the KGH Foundation will make a difference right here in our community. Your generosity also sends a powerful message to our doctors, nurses and health-care staff that they have our continued support as we remain committed to advancing world-class care close to home for all who live in this vast and beautiful region.

Keep in mind: It’s never a bad time to give.

Every day at KGH, thousands of little miracles begin with a gift.

To learn more about charitable giving to the KGH Foundation, contact director of planned giving Colleen Cowman at [email protected].

The information provided in this column should only be used in conjunction with a discussion with a qualified professional advisor when planning to implement a strategy for your unique circumstances.

Shauna George, CFA, CFP is an investment counsellor with RBC PH&N Investment Counsel, board director and member of the planned giving and finance committees of the KGH Foundation.

This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Castanet.

Win full year of free living at Summerland Seniors Village

Win year of free living

Moving into an independent living community is the start of something wonderful.

Instead of feeling alone and isolated, seniors moving into a new community with plenty of new faces creates memories, inspires new interests and hobbies, and makes many lasting friendships.

Doing it one of the most beautiful parts of Canada makes it an even more fulfilling experience.

Summerland Seniors Village is a dynamic living community that offers both independent and assisted living options for residents, and now you have an opportunity to live there for a full year for free.

That’s right. Retirement Concepts, which owns and operates Summerland Seniors Village, is rewarding one lucky winner with one year of free living at one of its 18 seniors’ housing facilities across B.C.

The grand prize includes accommodation fees for a private one-bedroom unit, plus coverage for meals, hydro and parking. The prize is valued at approximately $70,000 total.

Summerland Seniors Village is located in the heart of the Okanagan Valley, which means beautiful weather and nearby warm beaches are part of the package.

There is plenty of fun to be had indoors and on site as well. Summerland Seniors Village offers a large number of enriching daily programs and activities. Its residents can experience their shared special interests together, including baking, walking club, movies, card games, gardening, bridge and a weekly happy hour.

“When a new resident moves in, the comment we always hear is: I wish I had moved in sooner,” West Coast Seniors Housing Management marketing and sales director Rob Akimow says. “We see folks who previously may have been feeling isolated or lonely build new friendships in their new community. It’s really quite heartwarming.”

When new friendships are made, more activities are experienced together. And when more activities are experienced together, a cultivated sense of community is created.

Staff members are always there for anything residents require, and they take feedback to make life even better. The meals are delicious, and special diets are accommodated.

“It’s very clean, and the staff is very friendly,” says Bea Duquette, a current resident of Summerland Seniors Village. “The chef is amazing, and I would recommend this community to anybody.”

In addition to Summerland Seniors Village, West Coast Seniors Housing Management manages the day-to-day operations of Retirement Concepts’ retirement communities throughout the B.C. Interior, including:
• Kamloops Seniors Village
• Williams Lake Seniors Village

To enter the contest for one free year of living, go to contest.gmdpages.com/west-coast-seniors-housing-management to enter for your chance to win your way into a year of free living at your new home.

The contest ends on Dec. 15, 2022, at 11:59 p.m. PST and is open to legal residents of Canada, excluding Quebec, who are the age of majority in the province or territory of residence at the time of entry.

This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Castanet.

Pur & Simple offers fresh, delicious and new take on the annual holiday party

It's time for holiday brunch

It’s time to do your holiday party a little differently this year.

The evening get-together is so yesterday. Been there, done that. Who wants lukewarm meat and potatoes yet again?

Pur & Simple has the answer: the holiday brunch.

Get together with colleagues, family members or friends at Kelowna's Pur & Simple and really enjoy the holiday season with delectable dishes that will keep you coming back throughout the year. The restaurant is located next to Cactus Club at the corner of Harvey Avenue and Banks Road, which also means you won’t have to go far to do some holiday shopping afterwards.

The best part? Pur & Simple is licensed, which means the mimosas will be flowing as you celebrate the holidays and enjoy some of the most delicious brunch food you can find in Kelowna, whether it’s the Don Chorizo, Chocoholic Pancakes, Ri Ri’s Cheesecake or Go Bananas.

Pur & Simple takes reservations Monday through Friday, and on weekends you can put yourself on a waitlist, which allows you to take care of errands and hold your spot at the same time.

In addition, the restaurant is making everyone’s holiday spirit brighter with a gift card promotion; when you purchase a $50 gift card, Pur & Simple will add $10, giving you a $60 total.

The restaurant has also started featuring Peppermint Cream Latte as its specialty coffee for the holiday season. A state-of-the-art espresso machine is available with a full menu from cappuccinos to iced and hot lattes. A smoothie bar and fresh-pressed orange juice are also available, if that is more your cup of tea.

The huge menu of breakfast delicacies includes a variety of skillets, avocado toast, eggs Benedict and brioche bread French toast. Breakfast is available every minute the restaurant is open, from 7 a.m. to 3 p.m., while the lunch menu, which is served between 11 a.m. and 3 p.m. on weekdays only, offers burgers, salads, sandwiches and wraps that make any mouth water.

“As soon as your plate hits the table, you will not be able to fight the urge to open the Instagram app,” Pur & Simple director of marketing Aisha Al-Khabyyr says. “The presentation is that good—and the taste is even better than that.”

Learn more about Pur & Simple Kelowna on its website, and order online by clicking here.

This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Castanet.

Craft Culture's holiday market returns for its ninth year in Kelowna

Huge holiday market returns

One of the biggest holiday shopping markets in the Okanagan will return to Kelowna this weekend.

For the ninth year, Craft Culture’s Holiday Market at Prospera Place in downtown Kelowna will go Dec. 2 to 4 and feature close to 200 vendors, offering hand-made and locally produced products, including soaps, pottery, clothes, food, ornaments and toys to name just a few.

“We’re delighted to be back and this year will be the first in a three years with no restrictions,” says show organizer Karalyn Lockhart. “We’re really excited.”

Lockhart said the entire arena - including the concourse - will feature vendor booths, making the market a destination stop for those looking for unique Christmas gifts for themselves and others.

The market, will run from 1 p.m. to 7 p.m. on Friday, Dec. 2 and from 10 a.m. to 5 p.m. on Saturday Dec. 3, and Sunday, Dec. 4, and will feature goods produced mainly by B.C. and Alberta vendors.

“It really is a shopping extravaganza,” says Lockhart, who advises those who attend to give themselves plenty of time to see everything.

“I would say two to three hours,” she suggests.

While market organizers are always looking to bring in new vendors, there will also be plenty of familiar faces in the vendor stalls too, providing a good mix of established brands from local vendors and from other areas as well as new vendors appearing at the market for the first time.

“We have vendors who have been staples at the market over the years and we like to support new and upcoming vendors too,” adds Lockhart.

Last year, the market moved to three days from two in an effort to help alleviate the crowds that take in the popular seasonal event. Last year, an estimated 8,000 people passed thorough the doors of Prospera Place over the first three-day run of the market.

While it is no secret the event draws a large crowd, Lockhart wants to ensure customers there will be quieter times to shop.

“We would like to remind customers we rarely see lineups after 3 p.m., she says. “If at all possible, we encourage customers to arrive later in the day. We do have to comply with capacity regulations, and unfortunately are not able to let all of our eager and loyal customers in at once. If you would like to avoid crowds, afternoons and evenings are the best time to visit our event.”

Like so many events nowadays, the market has pivoted to make sure as many people as possible can take it in and enjoy the experience.

“It’s a big show and as a result we can get the best of the best. It’s also a fun thing to come to.”

Attracting a wide demographic from far and wide, the market is a must see for many.

Tickets for the Craft Culture Holiday Market are $7 each and priority tickets can be purchased online at craftculture.ca. Walk ups are also welcome, and customers can purchase cash tickets at the door.

For those not quite ready to visit in-person markets, Craft Culture has launched another round of its popular Holiday Local Boxes.

The Craft Culture Local Box is the perfect solution for gifting this holiday season for anyone who enjoys the simplicity of shopping online and supporting local. Each Local Box is curated with handmade items and treats, packed up and shipped straight to your loved one's door. Local pick up is also available in Kelowna and Penticton.

The Foodie Box, the Holiday Box, and the Pamper Me Box makes it easy to shop for anyone on your Christmas list. Limited quantities, order online today at local-box.ca.

This year Craft Culture and Castanet have teamed up on a contest, where one person will win a Foodie Box and two tickets to the Holiday Market. You can enter here. The contest will close Nov. 30.

This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Castanet.

More Think Local articles