MAKE A GIFT BY LISTED SECURITIES – CANADA
Giving a gift of stocks or bonds is an innovative and efficient way to minimize the tax paid on current income and a good philanthropic choice.
Consider these benefits:
- Immediate charitable tax receipt for the amount of the fair market value of the shares donated at the date of the gift
- No capital gain recognized on disposition of shares. (A “disposition” would be considered to have occurred at the time of donation.)
- The annual limit is 75% of the net income of the donor for the taxation year.
- The unused portion of the tax credit can be carried forward five taxation years.
- Donors benefit from the donation of a security with a high value due to the accrued capital gain, while avoiding tax on such gain
- Corporate donors are allowed a deduction equal to the amount of the gift in calculating corporate taxable income.
For more information please contact Karen Mitchell, Senior Philanthropy Officer at 514 693-1718, ext. 252 or firstname.lastname@example.org