N.B. If you are making a gift of securities from an estate, please contact the office, rather than following the instructions below.
Donate stocks and securities and get a bigger tax benefit!
If you hold publicly traded stock and securities that are in value, you can get a charitable deduction for the full value of your stock and avoid paying any capital gain tax by directly donating the stock to PEN Canada through Canadahelps.org.
Note: Stock must be given directly to CanadaHelps.org NOT the proceeds from the sale of the stock.
For example: If you hold a stock that you purchased 2 years ago for $3000, but which now has a value of $13, 000, you can donate the stock directly to PEN Canada and receive a tax deduction of $13 000. By doing this, you also avoid paying tax on the $ 10,000 capital gain.
What does this mean for Donors?
- Eliminate capital gain tax bill
- An opportunity to share a significant gift
- Recognition for the gift on our website
How to Donate:
1.Contact your financial advisor and let them know of your intentions
2.Click here, this will take you to PEN Canada’s page on CanadaHelps.org
3.Complete the online process filling in all required information
4.Print the letter of authorization, sign and submit it to your financial advisor
5.Your financial advisor will send in the completed form to CanadaHelps.org
6.CanadaHelps.org will deposit the funds into the PEN Canada bank account
7.You will receive a tax receipt by E-mail once the shares have been sold
Note: Canadahelps.org assesses a 3% transaction fee on each donation before distributing it to PEN Canada.
For more information on the guidelines of donating securities, please visit the Canada Revenue Agency’s page.