Reduce Tax-Liability with a Donation to a Canadian Charity
If your portfolio has done well this year, you might want to consider donating shares directly to your favourite charity. A securities donation is much more tax-effective than a sale, and subsequent cash donation.
You can receive a tax receipt for the full market value of your shares, and thanks to a special rule, pay no capital gains tax on the increased value of shares you transfer. The process is outlined in more detail in the linked Toronto Star article.
Of course, check with your tax adviser first, but if this is approach appeals, RLEF partners with CanadaHelps to make it happen. Start the process by completing our online form.
The lakes thank you!