Gifts of Securities
Gifts of securities is an effective way to donate to Arts Umbrella. As a rule, Arts Umbrella accepts gifts of publicly traded securities and on a case-by-case basis, will consider gifts of privately held shares. Gifting securities provides you with a tax advantage to eliminate capital gains tax on the gift of appreciated securities.
As per CRA ruling, in order to activate tax free appreciation of securities, your donation of shares must be transferred through your broker to Arts Umbrella’s broker. It is the policy of Arts Umbrella not to hold gifts of securities but to sell the gift of shares within 24 business hours. It is also important to note that tax savings on your gains cannot be activated if you sell your shares and then use the funds to make a donation by cheque or other form of payment to Arts Umbrella.
For ease of transfer, please provide your broker with our Gift of Securities form to facilitate the documentation of the transaction.
For further information regarding a gift of securities to Arts Umbrella, please contact: Miriam Aiken, [email protected], 604-416-3326