Honorary Chair: Brice Belyea
Cabinet Members:
| Dale Knox - Chair | Brian Moore |
| Norm McFarlane | Bill MacMackin |
| Steve Carson | Dr. Shelley Rinehart |
| Chris Long | Janet Scott |
| Eric Savoie | Grant Brenan |
Following the elimination of capital gains on donations of publicly traded securities in 2006, gifts of securities is now the most tax efficient way to make a charitable donation and a great way for donors to make a greater impact with their gift.
What counts as publicly listed securities?
Your donation must be of securities that are traded on a public market in Canada or the United States. This includes stocks, bonds, and mutual funds, but excludes shares in a private corporations and stock options.
How do I actually save more and give more by donating gifts of securities?
Suppose you purchased common shares in ABC Company for a cost of $1,000. If the current market value of the shares has increased to $5,000, you would have a capital gain of $4,000. If you sell these shares, and donate the cash, you would need to pay tax on the capital gain. Instead, by donating the shares, you get a tax receipt for the $5,000 and pay zero capital gains tax. As a result, you now have a tax credit of $2,300, which is $920 more than if you had sold the shares and donated the proceeds. Thus, this method of giving is more tax-efficient.
How do I transfer shares?
Shares should be transferred to the following account at RBC Dominion Securities:
376-34728-12. The FINS number for this account is T002, and the CUID is "DOMA"
Should you have any questions about your transfer, please contact David Wells, Portfolio Manager at 506-637-7528 or via email at david.c.wells@rbc.com.
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Greater Saint John Inc.
All rights reserved.
Charitable registration number 119253086RR0001
