With the holiday season upon us and the end of the year is in sight, donating to charities often becomes a priority this time of year. Help yourself and help the planet even more than you already do — consider a gift of stock this year.
In 2006, the federal government eliminated capital gains tax on gifts of appreciated publicly traded securities. This means that donors no longer pay capital gains tax when they give shares directly to a registered charity. This option may enable you to make a bigger gift to the David Suzuki Foundation or any other charity you support, than if you were to donate cold hard cash.
It's easy too — your broker does all the work for you once you give the OK. It's just a matter of your broker hitting a button to send the shares directly from you account straight into the Foundation's account — no paper required! Download the David Suzuki Foundation's shares transfer form here (pdf).
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In addition to the tax break, donors also receive a tax receipt for the fair market value of the securities. If you'd like to increase your support of the Foundation but don't want to rely entirely on a cash gift, consider donating a gift of securities. Several monthly donors have cancelled their monthly gifts and switched to an annual gift of stock — thereby increasing their total gift for the year and receiving a great tax benefit in the end.
We encourage you to consult with your broker or financial advisor to determine if the tax benefits are right for you. There was a great article in the Globe and Mail recently on the tax benefits of gifts of stock.
Happy holidays from all of us here at the David Suzuki Foundation and thank you for your support, no matter what form it takes!