CANADIAN  CONTRIBUTIONS

Giving Options

Donate Stocks and Cryptocurrency

Donating Securities for a Greater Impact 

If you acquired shares for $1,000, which subsequently appreciate to $10,000 in value, you realize a capital gain of $9,000.

When you sell those shares, you incur a capital gains tax. However, you can donate the shares directly to Virtue TV or any other charity of your preference. You will receive a charitable tax receipt for the full value of your donation.

This type of gift can result in a greater impact for the charity while also providing tax benefits for you. Donating securities allows you to circumvent capital gains tax, potentially enabling a larger contribution than if you sold the securities and donated the resulting proceeds.

Canadians donate securities inside of an RRSP or RRIF nearing retirement as part of their estate planning. Money withdrawn from an RRSP or RRIF is considered income, which is taxed at the marginal rate. Donating securities from an RRSP or RRIF account reduces taxable income. Some leave their RRSP or RRIF portfolios to a charity so that there’s no financial hit to the estate when the second spouse passes away. Any leftover securities inside of these accounts get sold, and the proceeds are considered income. During your life you can claim eligible amounts of donations to a limit of 75% of your net income; up to 100% of a taxpayer’s net income can be claimed as donations in the year of death and the preceding year.

Private corporations obtain tax deductions for the fair market value of securities and incur no capital gains tax on the donation. Private corporations may allocate the tax-exempt segment of the capital gain to the corporation’s Capital Dividend Account, enabling distribution to shareholders as a tax-free dividend.

Your contributions to Virtue TV are promoting conscious leadership, a crucial element of human prosperity. We are grateful for your compassion.

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