"Catholic" Implications of the new HST

If it hasn't already entered the vocabulary of most, HST (Harmonized Sales Tax) will become an acronym used regularly in our province as we begin to recalculate the cost of our grocery bills and other daily expenses.

That said, there are some "Catholic" implications that may be worth considering. Some insights from Archdiocese of Toronto, Manager of Planned Giving & Personal Gifts, Paul Nazareth:

"The HST is coming and many Catholics have been using an exemption opportunity to complete estate plans. If a "pre-plan" is created with Catholic Cemeteries andyour local funeral home you will be exempt from the HST if you initiate the plan before July 1.

All Cemeteries in the Archdiocese of Toronto have seen a tremendous increase in the number of people setting up appointments and starting plans. You may want to consider making the call and save on this important plan that everyone needs to put together. For a FREE Estate Planning kit, please contact our office any time.

The cost of preparing a Will and estate plan will also be going up with legal fees. If you wish to find a local estate lawyer near your parish who can help make a Will before July 1 to save the HST ( again from 5% to 13% ) please contact our office and we'll send it to you right away!"

For those still not entirely sure how the HST will impact their own personal spending habits, you can check out a helpful document that cover pretty much all major purchases, outlining the HST implications.

The Archdiocesan Development Office also has plenty of information and expertise in a number of areas you may wish to explore: preparing a Will, finding a Catholic lawyer or financial advisor, discussing gifts of securities or property to your favourite Catholic charity. These can all be a little overwhelming at times – don’t hesitate to contact the qualified team to discuss your needs.

While we're on the topic of financial stewardship, it doesn't hurt to remind readers about the annual ShareLife appeal which is in its final stages. Last year, 225,000 people in need turned to ShareLife agencies for assistance. The current campaign (as of June 16) was at 82% of its goal, having raised close to $10 million.

You can donate online anytime. Remember, that ShareLife has one of the lowest fundraising and administration costs of any charity in the country. A generous donor has also agreed to match any increased or new gifts this year to a maximum of $500,000, another incentive to support the cause. If you want to see maximum impact from your donation, consider a gift to ShareLife.

While death, taxes and charitable giving aren't exactly fun "water cooler" talk, it's important that we have the conversation. Perhaps looking at these issues from a faith perspective will allow you to explore these topics from a new, pastoral and refreshing approach.

Photos: Google, Archdiocese of Toronto