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Yarmouth Hospital Foundation

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Gift of Securities

Doug and Elaine Thistle

A gift to the hospital is a gift to the community as a whole
For Doug and Elaine Thistle, giving is a way of life. When they retired and sold their business and its property, they chose to donate a substantial number of high yield shares to the Foundation. The sale of their business and property came with major tax implications, but by making the gift to the Yarmouth Hospital Foundation, a registered charity, that tax implication was cut in half. "It's a cost-effective way of supporting a charity," says Elaine. The donated shares will continue to appreciate in value and that profit will go directly to support the vital work of the hospital, since registered charities do not pay income tax.

The Yarmouth Hospital Foundation welcomes gifts of securities, such as stocks, bonds and mutual funds. These types of gifts can be made today or as part of your will. The federal government has created special incentives to encourage such gifts by eliminating the capital gains tax when securities are transferred directly to a charity.

How to make a gift of securities

ELECTRONIC TRANSFER

We encourage you to contact us at the Foundation, prior to your planned transfer of securities, to discuss the purpose of the gift. Paulette Sweeney-Goodwin, Managing Director, is available at 902-749-1669 or at Paulette.Sweeney@nshealth.ca

*The value of your tax receipt will be based on the closing market price of the securities on the day deposited to the Foundation's account.

Gift Calculator

Using publicly-listed securities (stock, mutual funds, bonds) to make your donation can be more advantageous from a tax perspective than using cash. Normally, if you sell securities and donate the cash 50% of the capital gain is added to your taxable income. This means that while you receive a tax credit for the charitable gift you will pay income tax on the gain. There is no tax paid on the capital gain if the securities are transferred directly to the charity, making this type of gift more tax efficient.

Use the following calculator to see an example of the benefit of using securities to make your gift, rather than selling the securities and donating the cash. Please note that this calculator is not meant to replace professional advice and is for illustration purposes only.

Assumptions:

  • You will make additional charitable donations in the calendar year of at least $200.00
  • You live in Nova Scotia

Please Note: This information is intended for general illustration purposes only. No warranty is made as to the accuracy or applicability in any particular case. This information should not be relied upon or construed as legal or tax advice. You should consult with your financial, legal and tax professionals for advice before employing any of these strategies.

  1. Calculate
  Donate Securities Sell Securities & Donate Proceeds
Capital gain in value of securities $0 $0
Taxable capital gain $0 $0
Tax payable $0 $0
Tax credit for donation $0 $0
Cost to make donation $0 $0