In most cases, donating appreciated stocks, mutual funds or stock options means you pay no tax on the capital gains. Or save your charitable tax credits for future tax returns within 5 years of the transaction. You receive the charitable tax receipt for the market value on the date the security is received by our broker.
We highly suggest consulting your broker or a qualified financial advisor and we are happy to work with them to find the best solution for you. There are many other ways to support Distress Centres of Greater Toronto through planned giving including donating registered assets (RRSPs, RESPs, RRIFs), donating life insurance, annuities or using charitable remainder trusts.
Please connect with Tara Monks, CFRE, ACNP Director, Resource Development via email at tmonks@dcogt.com to discuss donating securities and mutual funds and further understand how you can tailor your charitable gift to meet your personal and financial circumstances while maximizing tax and other financial benefits.
