What's
New in Gift Planning
Do you own Bell Canada (BCE) shares?
Do you wish to advance promising research and help those with the disease and their caregivers?
If you answered yes to both questions, there's never been a better time to make a gift of securities. As you may know, the proposed sale of Bell Canada to the Ontario Teachers' Pension Plan has made headlines. If you are currently a Bell Canada shareholder, a 50% capital gain could be triggered on your Bell stock when the proposed sale concludes. And the older your shares, the greater your tax liability.
Donating the Bell shares would wipe out your tax liability and instead generate a tax credit. As of the 2006 federal budget, donations of publicly traded securities to registered charities are totally tax free of capital gains taxes. But your actual shares must be transferred – if you sell the shares and donate cash, your gift will not qualify for the exemption.
To learn more about this gifting option or to receive a Stock Transfer form, please contact the Gift Planning Office at 1-800-616-8816, or call direct at 416-847-2967.
Incentives for Charitable Giving in the 2006 Federal Budget
The 2006 Federal budget, released on May 2, provides an incentive that
is good news for donors and charities. Canadians who donate publicly
listed securities as a gift to charity will no longer pay the capital
gains tax on their appreciated asset. This complete capital gains relief comes
after years of an inclusion rate for gifts of publicly listed
securities that was set at 25 per cent. The news is expected to give a significant boost to the
charitable sector and encourage giving. This exemption is effective
immediately. It is important to note that the donation must be an "in kind" transfer, not the cash proceeds of sale of the security.
RRSP/RRIF
designations
Thanks
to a 2002 federal budget, donors can now make charitable
gifts by naming the charity as a beneficiary of an insurance
policy, RRSP or RRIF. No longer must the donor pass these
assets through their estates when they gift them to a
charity to be eligible to receive the tax receipt in
the year of death.
Leave
a Legacy™
The
Alzheimer Society of Canada is proud to be a participant
in Leave a Legacy. A program of the Canadian Association
of Gift Planners (CAGP), Leave a Legacy is a collaborative
effort designed to encourage people from all walks of
life to make gifts from their estates to the charitable
organization of their choice. The initiative is supported
by charities, community foundations, estate planning
professionals, corporate sponsors and the media.
|
