Gospel for Asia has been partnering with Link Charity since 2003. As a trusted partner, their mission is to be the “link” between donors and their charities. Link Charity can assist you with your Stocks and Mutual Funds.
Link can especially help in the following situations:
- Brokerage transactions.
- You have one stock but want two or more charities to benefit. Make one transfer to Link Charity (a charity, of course) and give a letter of direction with details. Link will sell your stock and make donations to the charities of your choice.
- You have a stock but want to achieve a certain sale price. You transfer the stock to Link Charity with a trust condition that it be sold at a specific price.
- You see an opportunity in the market to sell but you are uncertain which charities should be the recipients; Link will sell, keep the proceeds invested, and distribute when you are ready.
Link Charity has brokerage accounts open with 8 brokerage firms.
A direct transfer of stock or mutual funds to charity saves income tax. Great news! As per the May 2, 2006 Federal Budget, you include none of the capital gain in your income if the stock is given directly to Link Charity. You still receive the same charitable receipt for the full market value.
Are you a shareholder? Ever consider donating shares or mutual funds?
- Maybe you have inherited shares many years ago and have no idea of the cost base. You have feared disposing of them because finding the cost and reporting the gain would be difficult. Link Charity can help. With a zero inclusion, the gain is immaterial. No need to research it.
- Did you buy shares on an employee payroll plan, or on a re-invested dividend plan, and have lost track of the cost base? Don’t know how to calculate it? Concerned about the mess it might make in your estate settlement? All of these things fall by the wayside if you donate these shares to charity. The zero inclusion means the cost doesn't matter. You just receive a tax creditable charitable receipt for the full market value.
- Thought about donating shares, but the large capital gain and what you thought would be a huge tax bill, has deterred you? Especially oil stocks, resource income trusts, have huge gains. No matter. The new tax measure introduced May 2 is that you include NONE of the gain in your income, but still receive a full charitable receipt (which is worth about $44 of tax refund for every $100 of shares).
For more information, please contact Harry Houtman at Link Charity Canada Inc.
Thank you for making a difference for lost millions in Asia.