Did you know that you can donate stocks, bonds or mutual funds to Historica Canada? There are three main benefits for gifting your securities*:
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*Please ensure that you discuss the specifics of any tax implications with your financial or tax advisor.
There are two benefits to donating securities directly to Historica Canada. First, you will receive a tax receipt for the amount Historica Canada sells the securities for, which can be included as a charitable donation in your tax return. Second, by donating securities directly, any amounts over and above your adjusted cost base of those securities are exempt from the capital gains tax that typically applies on the sale of the security. Please ensure that you discuss the specifics of any tax implications with your financial or tax advisor.
The chart below shows the tax advantage to donating shares directly to Historica Canada, versus selling the shares and then donating the cash proceeds. Assume the shares would sell for $10,000, and your cost is $1,000. Assume also that you are in the highest (Ontario) tax bracket for 2016.
Historica Canada will accept a minimum gift of $1000 per type of security sold.
Historica Canada sells the securities on the same day as received. You will receive a charitable tax receipt for the amount the securities are sold at.
Your tax receipt will be issued within one month of the date the securities are received in Historica Canada’s account.
Yes, but this type of donation will be handled as a cash donation and will not benefit from the capital gains tax exemption applied to a gift of securities.