If you have securities (traded on an approved exchange) that have increased in value since you bought them, you have capital gains. At some point, you or estate will pay tax on 50% of these gains. However, by donating these securities to the Cedars Cancer Institute, you will not incur any tax on the capital gain. 

 

Eligible donations that may be used for tax purposes in a year cannot exceed 75% of your net income plus 25% of the taxable capital gains arising from donations of capital property. If the amount of the donation exceeds your deduction capacities for that year, unused amounts can be carried forward and used in any of the five subsequent tax years.

 

Upon death, the maximum deduction against net income increases to 100% of net income in the year of death. As well, the tax return for the year preceding death may be reopened to treat donations on this return as eligible for an income tax credit to the extent of 100% of net income. Due to this provision, donating securities as part of one’s Will merits consideration as there will be benefits from both the income tax credit and the reduced capital gains inclusion rate.

 

Don’t miss this opportunity to support our patients and caregivers while saving taxes!   Your gift to the Cedars Cancer Institute will last for generations.

 

 

For further information and to receive a Donor Instruction Detail Form contact:

 

 

Jeff Shamie

Executive Director

687, Pine Avenue West, # E.3.15, Montreal (Quebec) H3A 1A1 

Telephone : (514) 843-1606   Fax : (514) 843-1660

email : jeff.shamie@muhc.mcgill.ca