In the May 2, 2006 Federal Budget, the Government of Canada eliminated capital gains on a gift of publicly-traded securities to public foundations such as ours.
Publicly-traded securities are all securities listed on Canadian and major international exchanges. The category includes stocks, trust units, exchange-traded funds, warrants, etc., as well as mutual fund units and bonds.
The elimination of capital gains tax on publicly-traded securities donated to the Glenrose Rehabilitation Hospital Foundation (GRHF) can provide you, the donor, with an unprecedented tax saving opportunity.
When you make the donation it must be a direct transfer of the security itself, not the cash proceeds of a sale of the security. As a donor of the security itself, you will receive tax savings.,
This exemption can be applied to income tax returns up to five years after the gift has been made, as with any charitable contribution. This tax saving also applies to gifts designated in a Will if the donor arranges for their estate to transfer securities versus cash.
To explore this avenue of donation which will benefit both you and our Foundation, we suggest you visit Canada Customs and Revenue Agency website at www.ccra.gov.ca or contact us or further assistance.