Gifts of Securities
Current tax rules make it very attractive to donate publicly traded securities to your favourite charity. Federal law exempts appreciated securities from capital gains tax if they are donated directly to a charity. This applies to all gifts of stock (equities), bonds, futures, options and mutual fund units.
ADVANTAGES OF GIFTS OF SECURITIES
Completely eliminates your capital gains tax.
When you sell publicly traded securities, you must pay capital gains tax on 50% of the increase in value since you bought them. But, if you donate these same securities directly to The Lung Association, you won’t pay any capital gains tax.
Receive a charitable tax receipt for the full market value of your donated securities.
The charitable tax receipt you receive from donating your securities will help you reduce the taxes owed on your taxable income. Donations in excess of your annual limit (75% of your net income) may be carried forward and used in any of the next five subsequent years. The amount of your tax receipt for your gift of securities will be based on the donated security’s value at the market close on the date the gift is received by The Lung Association.
Get tax benefits for your estate for gifts of securities in your will.
Your estate will receive a charitable tax receipt for all donations of securities made through your will. This can help reduce the taxes on your estate in the year of your death. If the donation exceeds your limit, your estate trustee can claim the balance against the taxes paid in the year preceding your death.
BEFORE YOU DONATE YOUR SECURITIES
Please contact The Lung Association before making any gift of securities. You may download this form that provides you with our account and contact information you and your broker need to make your donation as easy as possible. Please complete and return the form so we can track the completion of your gift and provide a tax receipt.
FOR MORE INFORMATION
Provincial Manager, Community Giving
The Lung Association
18 Wynford Drive, Suite 401
Toronto, ON, M3C 0K8
Tel: (416) 864-9911 Ext 235
Cell: (289) 339 1958
Fax: (416) 864-9916
Gift in Your Will
Remembering family, friends and charities in your Will is important when creating your own personal legacy. If you are considering a bequest in your Will to help ensure lung health for future generations, please speak with your lawyer or advisor about your wishes, and call us. For the purposes of your Will, a bequest gift should include our legal name, “Ontario Lung Association”. Our charitable registration number is 12404 6368 RR0002.
For additional information about including the Ontario Lung Association in your Will, please contact your closest community office, or call Lauren Smith, Provincial Manager, Community Giving, 416 864-9911 Ext 235.