Gifts of Appreciated Stock
The 2006 Federal Budget made contributions of stocks more tax-effective than ever before. In fact, all donations of stocks and securities to Belmont House are fully exempt from capital gain tax.
An Illustration of Gift of Stocks and the Benefits to You :
| Assuming 46% Tax Rate | Gift Shares Directly to Charity | Sell Stock and Give Total Cash Proceeds From Sale to Charity |
|---|---|---|
| Market value | $ 10,000 | $ 10,000 |
| Cost basis | $ 2,000 | $ 2,000 |
| Capital gain ($10,000-$2,000) | $ 8,000 | $ 8,000 |
| Taxable capital gain (50% of $8,000) | $ 0 | $ 4,000 |
| Tax due on gain (46% of $4,000) | $ 0 | $ 1,840 |
| Donation tax credit (46% of gift to charity – see below)* | $ 4,600 | $ 4,600 |
| Net tax savings to donor (tax credit less tax due)** | $ 4,600 | $ 2,760 |
| Gift to The Belmont House Foundation* | $ 10,000 | $ 10,000 |
1. Notify us of the number of shares and the name of the stock being donated by contacting the Belmont House Foundation at 416-964-9231 ext. 238.
2. Contact your broker or investment adviser to request the transfer of stock and provide him or her with the following information:
| The Belmont House Foundation Broker: | Shelagh Finlayson (416.842.7243) at RBC Dominion Securities Inc. |
|---|---|
| FINS number (if Canadian securities): | T002 |
| CUID Number (if Canadian securities): | DOMA |
| DTC Number (if US securities): | 5002 |
| Belmont House Foundation account number: | Belmont House Foundation, 421-42145-1-4 |
Download and complete the Transfer of Shares Form
Your broker will then have all the information to transfer the stock into our account.
3. Once the transfer is complete, we will contact you to confirm the amount of the charitable tax receipt.
The staff have really done a remarkable job keeping our family close while we have to physically stay apart.
Knowing that Mum is so well taken care of physically – and also mentally and emotionally – provides so much comfort to our family. We know that we don’t have to worry about her and can just enjoy our time together.
We can really feel the love the staff have for our Dad. They always have time for his jokes and stories and he is so well cared for. We know we made the best decision for him.
I’ve never been bored at Belmont! There is always so much to do and I can tell the recreation staff really care about what they do. The mid week current events group is a highlight of my week and full of interesting debate! I also really look forward to the live entertainment twice a week. Feels so luxurious to have such talented musicians visiting our home!