Less tax for you — More equipment for your hospital

We should all have exceptional health care close to home. Many of us assume that government funding covers all of our health care needs, but that simply isn’t true. The reality is that very little government funding is available for specialized equipment and technology at our hospitals. Much of that equipment and technology is funded through charitable donations from community members.

To keep this in perspective, health care is incredibly expensive. The health sector accounted for 39.6% of Ontario’s 2024 budget. When it comes to our hospitals, governments fund operations and some capital costs. Community support bridges the gap for advanced equipment and technology.

I’ve had the honour of being a volunteer at Lakeridge Health Foundation for over 25 years in various roles, so I’ve seen firsthand the impact our community has on patient care. Over the last two years alone, I’ve seen patients benefitting from a new Centre of Excellence in Robotic Surgery, PET-CT imaging technology arriving in Durham Region for the first time, and proceeding with the amplification of digital pathology that will drastically decrease wait times for laboratory test results. Without community support these projects wouldn’t have happened.

I’m also an accountant. I know that by donating to charity we’re also taking advantage of government incentives that reduce our income taxes. Both the charitable donation income tax credit and the elimination of capital gains tax on gifts of securities are specific incentives aimed at influencing donors to give more money to charity. By making donations and as a result paying less tax, we’re essentially choosing where to direct dollars that would have otherwise been directed at the discretion of our federal and provincial governments. These government tax incentives have empowered us to make decisions about what is funded in our own communities.

Donations not only equip our medical professionals – donor-funded equipment and technology also help attract and retain talent at our local hospitals. I’m encouraged when I learn about new medical professionals joining the Lakeridge Health team due in large part to the equipment and technology we have in place.

There are many ways to support your local hospital foundation, ranging from a gift of stock to leaving a gift in your Will. You can learn about your options by discussing them with your professional advisor or a charitable giving expert at Lakeridge Health Foundation.

Communities that have the best health care are those who support their local hospital foundations. Giving to your hospital foundation is a great way to impact patient care for your family, friends and neighbours, while at the same time reducing your taxes.

Susanne Hillebrand is a CPA, Co-Chair of Lakeridge Health Foundation’s Planned Giving & Endowment Committee, and member of the Foundation’s Finance & Audit Committee.

Lakeridge Health Foundation supports innovative equipment, technologies, education, and research at Lakeridge Health Oshawa and Whitby Hospitals, including R.S. McLaughlin Durham Regional Cancer Centre. For information, please call call Steve MacDonald at 905-576-8711 ext. 34176 or Adrienne Burns at 905-576-8711 ext. 32784 or visit www.mylakeridgelegacy.com.