How do I donate securities?
Ask your broker to send your shares directly from your account into ours.
Our broker sells the shares immediately upon receipt then forwards the proceeds to us. We will send you a charitable tax receipt for the fair market value on the date that shares are received in our brokerage account.
It may take 2 to 3 weeks for us to process the gift and send you a tax receipt.
What are the benefits?
There are two benefits for you when you give securities: you get a tax break and a charitable tax receipt. Capital gains are increases in the value of securities over the price you paid to buy them. In Canada, there is no capital gains tax on gifts of appreciated publicly traded securities.
If you sell your shares and donate the cash, you’ll have to pay capital gains tax. When you donate shares, you don’t and we’ll give you a tax receipt for the fair market value of the securities.
Consult your broker or financial advisor to decide on the best giving options for you.