Tax smart giving
Gifts of Publicly Traded Securities (Stocks, Bonds or Mutual Funds)
Since May 2006 when the Federal Government eliminated capital gains tax on gifts of publicly traded securities, such as stocks, bonds or mutual fund units, this has become the least expensive way to make a gift to Central City Foundation.
If you own publicly traded shares, bonds or mutual funds, you can donate them directly to the Central City Foundation and save taxes. If you sell your appreciated securities, you will incur capital gains tax. But, if you donate them to the Central City Foundation you will eliminate the capital gains tax.
Central City Foundation will issue a donation receipt for the fair market value at closing on the day we receive the securities. This receipt may provide additional tax savings by offsetting tax payable on other income.
Securities are equally effective when given today or in the future through a bequest in your will.
How to Give
Transferring your securities to Central City Foundation is easy. We will happily provide you with the necessary forms and instructions for your broker. Please contact us at 604-683-2263 or by email at Jennifer.Johnstone@centralcityfoundation.ca for information and assistance with your gift.