We’d like to introduce you to Robin, our hypothetical Chalice donor.
Robin owns stocks and mutual funds (also known as securities) that have grown in value, and Robin doesn’t want a tax bill from selling them. Robin also loves Chalice’s work and wishes to make a donation but would prefer that the donation come from savings rather than cash flow.
The hitch is, Robin knows that if they sell their shares and then give their profit to Chalice as a cash donation, they’ll face capital gains tax bill from the CRA. But ‘tax smart’ Robin knows that by donating the securities to Chalice directly, that tax bill will be eliminated, so all the value can go to our mission.
It was easy. When Robin transferred their shares to Chalice’s account (via their broker), Robin received a charitable tax receipt and no bill from the Canadian government. Their donation went directly to improving the lives of children and families in our sites.
That was Robin’s story, and it could be yours. Chalice can also work with you to accept share certificates, mutual funds, and guide you through leaving securities as a bequest in your Will. If Robin were to have bequeathed theirs, it would have reduced their capital gains taxes upon death, thereby significantly reducing their taxes, and increased the inheritances of Robin’s loved ones.
When donors choose to gift securities to Chalice, they unlock a powerful opportunity. Not only do they enjoy significant tax benefits, but they also pave the way for brighter futures for children and families in need.
At Chalice, our mighty trio of Wilson, Catherine, and Peter are on-hand to help you navigate all your giving options. Learn more about giving securities and mutual funds, and explore other ways to give, at chalice.ca/plan-a-gift.