How can I donate my vehicle to support The Lung Association?
It’s simple! Working on our behalf, Donate a Car Canada will accept your vehicle for donation — running, or not! Old or new! For more information visit donateacar.ca
What are Gifts of Securities?
When you sell an appreciated stock or mutual fund (one that has increased in value since you purchased it) and donate it to a charity of your choice. When donating securities to a charity, you pay no capital gains tax, otherwise you are required to pay tax on 50% of the capital gain.
Advantages of Gifts of Securities
- Completely eliminates your capital gains tax.
- When you sell publicly traded securities, you must pay capital gains tax on 50% of the increase in value since you bought them. But, if you donate these same securities directly to The Lung Association-Ontario, you won’t pay any capital gains tax.
- Receive a charitable tax receipt for the full market value of your donated securities.
- The charitable tax receipt you receive from donating your securities will help you reduce the taxes owed on your taxable income. Donations in excess of your annual limit (75% of your net income) may be carried forward and used in any of the next five subsequent years. The amount of your tax receipt for your gift of securities will be based on the donated security’s value at the market close on the date the gift is received by The Lung Association-Ontario.
- Before you donate your securities.
- Please contact The Lung Association-Ontario before making any gift of securities. You may download this form that provides you with our account and contact information you and your broker need to make your donation as easy as possible. Please complete and return the form so we can track the completion of your gift and provide a tax receipt.
- Get tax benefits for your estate for gifts of securities in your will.
- Your estate will receive a charitable tax receipt for all donations of securities made through your will. This can help reduce the taxes on your estate in the year of your death. If the donation exceeds your limit, your estate trustee can claim the balance against the taxes paid in the year preceding your death.
For more information, please contact:
Andy Donovan, CFRE
The Lung Association
18 Wynford Drive, Suite 401
Toronto, ON, M3C 0K8
Tel: (416) 864-9911 Ext 257
Fax: (416) 864-9916