Making a gift of shares is one of the easiest and most tax-effective ways of donating. It’s what we like to call getting a bigger bang for your buck.
The deadline for 2024 is December 18.
By donating shares directly to The Montreal Children’s Hospital Foundation, you will not only help transform care for sick children, but you will also profit from significant tax benefits because you are eligible for two tax savings:
- Donation tax credit.
- Elimination of all or a portion of the capital gain taxes, depending on your financial situation.
There is a wide variety of publicly-traded securities that qualify and donating is simple and straightforward.
The following example shows the results from:
- Donating the proceeds (cash gift) from the sale of shares (Scenario A)
- versus - - Donating shares directly (Scenario B)
*For simplicity and illustration purposes, we will use 50% as marginal tax and tax credit rates for donations through this example. Actual results may vary depending on your marginal tax bracket.
These are general figures and do not constitute legal or financial advice. Please consult your tax advisor.
Important information: The scenarios above compare tax advantages assuming you benefit from the complete elimination of taxes on capital gains.
Procedure and Forms
You have any questions? Please contact Samar El Soufi