Since changes to the Federal Budget in May 2006, you no longer have to a pay capital gains tax on appreciated securities when you gift them directly to a registered charity.
When you sell an appreciated stock, mutual fund or flow through share you are required to pay tax on 50 percent of the capital gain. However, if you donate the appreciate security to charity, you pay no capital gain tax. Plus you get a tax receipt for your gift.
Donation of appreciated securities is one of the most cost efficient ways of making a donation to the Toronto Public Library Foundation.
For an illustration of the tax savings of appreciated securities, click here.
To print out a copy of the transfer of securities form, click here.
For more information, please contact:
Liza Fernandes, Associate Director Community and Legacy Gifts
789 Yonge Street, Toronto, ON M4W 2G8
Ph: (416) 397-5924; Fx: (416)397-5999;