Donating Securities vs. Cash
by Shelly Appleton-Benko | December 2, 2021
With Giving Tuesday just behind us, and the holiday season ahead, many of us are thinking about giving back. Did you know that when you donate eligible publicly traded securities from your investment account to a charity, your capital gain on those shares is forgiven? Here’s a quick refresher.
This strategy applies to donations of eligible securities in non-registered accounts that have appreciated in market value since purchase. By donating such securities directly from a non-registered account, rather than selling them first and donating the proceeds, you avoid the capital gains tax that would otherwise arise from the sale of the stock.
In other words, you will not have to include in your income the capital gains on donations of these securities, thus saving tax. In addition, you will receive an immediate donation tax credit based on the full market value of your donation.
Double win! You benefit, and the charity or community organization to which you donate benefits. Feel free to give us a call to discuss if this might be a good approach for your charitable donation planning.
P.S. Remember: By claiming receipts totaling over $200 on a single tax return, you save more tax. The first $200 of charitable donations that are claimed on a single tax return receive a lower tax credit rate than the rate available on the portion of donations above this threshold.
The Practice of Patience | July 13, 2021
The U.S. economy is re-opening, the COVID-19 battle is being won, and the stock market has been experiencing a historic market rally that is leaving many investors wondering what steps to take next. What will inflation be like in the coming year? What are the possible changes to income tax structures — both here and south of the border — and how will that affect us? And of course, how will we end up paying for the stimulus packages of the past year? + More
5 Years in the Making! | June 3, 2021
Wow! Twenty-five years went by in what seems like the blink of an eye. It’s hard to believe that on June 3, 1996, I began my career at Odlum Brown. So much has happened – and there’s so much more still to come!
Milestones like this one are a pit stop in life’s journey, and a great chance to pause, reflect and celebrate some of the lessons learned along the way. + More
Blue Moon | October 30, 2020
Fitting for a unique year like 2020, our Halloween this Saturday will be extra “spooky” as the sky will be lit by a “blue moon.” A blue moon is when there is a second full moon in the same calendar month. Blue moons are rare, hence the phrase “once in a blue moon.” + More
Hire the Gardener | November 6, 2019
As the seasons change, many of us will spend time raking the leaves and pruning back the shrubs in order to keep our landscaping orderly and healthy. So too, as Investment Advisors and Portfolio Managers, we now revisit portfolios through the lens of preparing for year end and future conditions. In particular, we focus on the capital gains and losses for non-registered accounts. + More
BA, FCSI, CIWM, CFDS
Vice President, Director,
Phone: (604) 844-5327
Toll Free: (888) 886-3586
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Shelly Appleton-Benko is a Vice President, Director and Portfolio Manager at Odlum Brown, with expertise in strategic wealth management. She has over 25 years of investment experience, helping affluent clients build, preserve and transition wealth. Shelly’s investment philosophy focuses on high-quality companies with strong management teams and growth potential. She places a priority on owning mid to large-cap companies with dividend payment streams. You won’t find any penny stocks here! Portfolios are created with a custom blend of individually traded securities in diverse sectors listed on major indices such as the Dow Jones Industrial Average, S&P 500 Index and S&P/TSX Composite Index. Where required, Shelly maintains a fixed income portion of the portfolio by tailoring a blend of corporate bonds, preferred shares, GICs or short-term money market products. Overall, Shelly ensures you always know what you own and why. + Learn More
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