Donating Stocks - Important New Tax Advantages
You no longer have to pay capital gains tax when you donate publicly traded stocks to qualified charities, under new tax rules introduced in 2006.
If you own stocks with substantial unrealized capital gains, this tax change can enable you to give a much larger gift compared to selling the stocks, then donating the proceeds. You can also completely eliminate capital gains tax when you donate a certain amount of a particular stock, while selling the remainder for reinvestment or other purposes.
Click on our Stock Donation Calculator to find out exactly how many shares you would need to donate in order to eliminate capital gains tax. To learn more, please contact me today.
The RBC Dominion Securities Charitable Gift Program
The RBC DS Charitable Gift Program is a continuing fund managed by Charitable Gift Funds Canada Foundation in your name that is dedicated to providing an enduring contribution to an organization(s) of your choice. With no set up costs and a low management fee, the Charitable Gift Program is a great way to ensure that most of your money goes to help those in need rather than to administrative and often high maintenance fees.
Private Family Foundations
Our most affluent clients often appreciate the opportunity through RBC to set up their own private family foundation. Fully registered with the Canada Revenue Agency as a registered charitable organization, the Private Foundation option allows you to set up a lasting legacy while donating valued assets to organizations of your choice. This option allows you complete control over the foundation and how its assets are distributed. Ask us how we can help you set up and administer your own Family Foundation.