Securities
Job Description
Description
Donating Appreciated Shares – Public and Private Shares and Securities (including mutual funds)
A common misconception about planned or legacy giving is that you benefit only in the future. In fact, you can often benefitimmediately.
50 per cent of a capital gain from the sale of stock is taxable. When a stock is donated to a registered charity, the full capital gain is exempt and no tax is owed. The exemption can be applied to income tax returns up to five years after the gift has been made, as with any charitable contribution.
Gift of securities and mutual funds
How It Works
Donating a gift of securities, stocks and bonds, is simple and can have great tax-saving advantages for you while making a real difference to the charitable work of the Canadian Medical Foundation.
Gifts eligible for this preferred tax treatment can be funded with a variety of securities:
- Prescribed bonds;
- Units of mutual funds;and
- Shares, warrants, bills and futures that are listed on the stock exchanges prescribed by the Canada Revenue Agency (CRA).
Great Tax Advantages for You
A 2006 tax provision made by Canada Revenue Agency (CRA) gives donors who contribute appreciated stock and bonds the chance to eliminate the amount of capital gains tax otherwise payable to the government. Now, none of the gain (the amount by which the current fair market value exceeds the average cost base) will have to be considered as income. Selling those same securities would result in a capital gains tax calculated on 50% of the realized gain, creating a much higher tax bill payable to the government in that year.
The Charitable Donation Offsets Taxes Due
When you make an outright gift of appreciated securities, be it stocks or bonds, you will receive an official charitable tax receipt for the fair market value of the gift. This is based on the value of the securities at the close of trading on the date of ownership
Company
Medicalfoundation
Location
Toronto
Country
Canada
Salary
100.000
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