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Senior Portfolio Manager & Senior Wealth Advisor Thane Stenner of Stenner Wealth Partners+ at CG Wealth Management Canada spoke with Wealth Professional Canada about the AMT hike and how it may affect the amount high-net-worth individuals give to charity.
Sitting down with journalist and wealth editor, Noelle Boughton, Mr. Stenner discussed the late-March decision by the federal government to raise the alternative minimum tax rate in 2024 and how these changes will affect the size of future donations.
“While the uber-wealthy typically maintain an extremely charitable profile, they will account for the tax effects of these larger donations now,” said Mr. Stenner, rehashing his conversation with Wealth Professional Canada. “We must look at this realistically. I do think the news will most likely impact that ultimate size of donations.”
Mr. Stenner continued, elaborating on the possible positives to this decision such as smoother, more consistent donations in regular intervals instead of large amounts interspersed over a vast amount of time. Mr. Stenner’s experience serving on non-profit advisory boards and committees gives him keen insight into how these changes will ultimately affect the non-profit sector. He concluded his remarks with hope that the ultra-high-net-worth would continue to step up and give as they have over the pandemic, citing their faith, families, and compulsion to positively impact others by giving to charitable causes.
Wealth Professional Canada provides free resources and news within the financial vertical. Owned by Key Media, the publication is a trusted source by advisors and other industry professionals. Noelle Boughton is Key Media’s News Editor within the financial sector and has been a journalist for more than three decades.
Thane Stenner is cross-border licensed in USA and Canada via FINRA and IIROC. Previously, he acted as a Managing Director, International Client Advisor, Institutional Consulting Director, and Alternative Investments Director at Morgan Stanley Wealth Management. He led his team in managing portfolios for ultra-high-net-worth clients.
He graduated cum laude from Arizona State University and attended Harvard Business School’s Executive Program. Stenner’s unique expertise and knowledge have been featured across several business news outlets including, the Globe & Mail, Financial Post, CNBC & BNN Bloomberg.
For more news and information about Thane Stenner, please visit https://stennerwealthpartners.com/. You can also find him on Twitter and LinkedIn.
