Shares & Securities
Double your tax advantage with a gift of publicly traded shares, bonds or mutual funds.
In 2006, the government eliminated the capital gains tax on gifts of publicly traded shares, bonds or mutual funds. Previously, anyone thinking of donating such assets first had to sell them. If the assets had grown in value, the capital gains tax kicked in. In the end, the government often benefited more than the charity.
An Incentive to Give
The government's elimination of the capital gains tax on gifts of publicly traded securities is there to give donors another means of supporting their communities. By making a direct gift of shares and securities to Royal University Hospital Foundation, you can double your tax advantage by:
- completely eliminating the capital gains tax you would otherwise pay if you sold the securities and then donated the proceeds
- receiving a tax receipt for the fair market value of the securities at the time of the transfer
This combination of tax-exempt capital gains and charitable tax receipt enables you to make a significant gift at little cost.
Planning Tip: To ensure you eliminate the capital gains tax on donated securities you must transfer the assets directly to RUH Foundation. Your gift will not qualify if you sell the securities and then gift the cash.
For more information on planning your gift, please contact Bruce Acton, Director of Development, at 655-1984.
|
