Tax Advantages of Donating Stocks and other Equities to the Temple:
Are you considering making a donation to the Temple and do you have stocks, mutual funds, or other forms of equities that have appreciated in value? Did you know that these can be directly transferred to the temple without redemption. Normally, any capital gains realized at the time of conversion back to cash would be taxable to the holder/donor. A direct transfer of stocks avoids this. Subsequently, as a registered charity, all such donations to the temple are non-taxable.
The generous donor will receive a tax receipt for the full value of the stocks at the time of donation. How much larger the charitable tax credit realized by you is dependent upon the facts in your particular case. The temple will receive the stocks and, upon eventual conversion to cash, will not pay any taxes.
If you are interested please contact Renako Thompson at the office by phone 604 277 2323, email office@steveston-temple.ca or in person to request a Stock Donation Form.
Links to oth a guide put out by Royal Bank and a Fill-able PDF Donation form can be found below.
Disclaimer: This information is not a substitute for professional advice and we highly recommend consultation with your financial and tax advisors.
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