Charitable donations of publicly traded securities (stocks, bonds and mutual fund units) don’t just help the Bishop Strachan School – they also provide you with valuable income tax credits.
If you have publicly traded shares in your portfolio that would generate a substantial taxable gain if you sold, consider donating some of those shares when making your next donation. You will get a tax receipt for the full market value of the shares and there will be no tax to pay on the disposition of the shares.
Your tax savings are greater when you donate securities rather than giving the equivalent amount in cash. The key to executing this tax strategy successfully is to make sure you gift the securities directly rather than selling them first. These gifts are quick and easy to make and the shares are usually transferred electronically (although BSS can accept hard-copy share certificates).
We encourage you to speak with your professional tax advisor before making a significant gift of publicly traded securities.
Our Planned Giving staff is ready to ensure that your philanthropic goals are met. For more information, please contact 416-484-4325 ext. 1875.