\ Fundraising \ Tax Savings through the Donation of BCE Shares
One option to consider is to donate your shares to the ALS Society of Canada. Recent changes to the Income Tax Act mean that you do not pay any capital gains tax when publicly traded securities are donated to a registered charity such as the ALS Society of Canada. Depending on the number of shares you hold and their purchase price, you could be in the position to make a significant investment in ALS research and receive a tax credit. This is true for all publicly traded securities, not just BCE. Please note that the benefit is only possible if you transfer the shares. Selling the stock and donating the proceeds drastically reduces your possible tax credit.
While the ALS Society of Canada encourages you to consult your financial advisors before making any significant charitable gift, we are happy to discuss your situation and illustrate how you and ALS Canada would benefit from such a contribution.
For further information, please contact Scott Fortnum, vice president development, at 416-497-2267 x 228 or by e-mail at sf@als.ca
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Tax Savings through the Donation of BCE Shares
BCE, Bell Canada Enterprises is a public company that is pending privatization. This means that shareholders will need to sell their shares. BCE stock is one of the most widely held in the country and many people have held shares for years as part of their investment portfolio. Upon selling, holders will likely benefit from a significant capital gain (increase in value of the shares since purchase), but will also face some significant tax liabilities as 50 per cent of the gain becomes part of your taxable income for the year.One option to consider is to donate your shares to the ALS Society of Canada. Recent changes to the Income Tax Act mean that you do not pay any capital gains tax when publicly traded securities are donated to a registered charity such as the ALS Society of Canada. Depending on the number of shares you hold and their purchase price, you could be in the position to make a significant investment in ALS research and receive a tax credit. This is true for all publicly traded securities, not just BCE. Please note that the benefit is only possible if you transfer the shares. Selling the stock and donating the proceeds drastically reduces your possible tax credit.
While the ALS Society of Canada encourages you to consult your financial advisors before making any significant charitable gift, we are happy to discuss your situation and illustrate how you and ALS Canada would benefit from such a contribution.
For further information, please contact Scott Fortnum, vice president development, at 416-497-2267 x 228 or by e-mail at sf@als.ca
| Posted On: Tuesday, December 04, 2007 Modified: Tuesday, December 04, 2007 Category: Fundraising Posted By: |