Gifts of Stock
A gift of publicly traded securities (stock) is both simple and tax-effective. A gift of stock enables you to make a larger gift at a much lower cost, since you would receive greater tax benefit through a gift of securities than you would if you opted to sell the securities and donate the cash proceeds to OCAD U. With a gift of publically traded securities, you can eliminate capital gains tax and also realize immediate tax savings.
Gifts eligible for this preferred tax treatment can include any of the following securities:
- Prescribed bonds
- Units of mutual funds
- Shares, warrants, bills and futures that are listed on the stock exchanges prescribed by Canada Revenue Agency
Benefits of Gifting Securities
- Eliminates the capital gains tax owing on the shares.
- Official tax receipt issued for the fair market value of the gift, based on the closing price of the shares on the day the gift is received.
- Choose how your gift is used, e.g., student aid, a particular academic program, or the area of greatest need.
Last Modified:1/29/2013 2:08:04 PM