The federal government has made it more rewarding than ever to donate the value of listed stocks to charitable organizations. The obligation to pay capital gains tax has been removed.
Previously, a taxpayer who donated eligible shares that had increased in value since their purchase was required to pay tax on 25% of the increased value.
Take the example of a donor who wants to make a gift to the Botanical Garden and does so with a gift of publicly traded stocks. If the stocks were purchased for $400 but have a current market value of $1,000, then Memorial will issue a receipt for $1,000. This results in a $486.00 donation tax credit (when using the top marginal tax rate of 48.6%).
Please note: It is Memorial's policy to sell your donated shares as soon as possible. You will be receipted according to the market price of those shares at the close of business on the day we receive them. The value of the sold shares, which may fluctuate between the time we receive and sell them, will be applied to your preferred area of designation.
If you would like to speak directly to someone about making a gift to the Botanical Garden of Memorial University, please contact:
Development Officer - Botanical Garden
Office tel: 709 864 7669
306 Mt. Scio Rd
St. John's, NL
CHARITABLE REGISTRATION NUMBER: 10769 0273 RR0001