Securities

If you choose to sell appreciated securities during your lifetime, or if these assets are liquidated through your estate, tax must be paid on 50 per cent of the capital gains on those securities.

The capital gains tax advantage also applies to donations of publicly traded shares acquired through employee stock options. The shares must be donated within 30 days of the stock option being exercised.

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If you choose to donate appreciated securities directly to Western, your taxable capital gain is eliminated.

Summary

• Western will issue you a tax receipt for the fair market value of the gift of securities to be used for tax purposes. The fair market value will be the closing price of the securities on the date the securities are received into Western's brokerage account.
• If your donation exceeds the amount eligible for a tax credit in the year your gift is made, the excess credit may be carried forward up to five years.
• If you leave securities to Western through your Will, your estate will receive the same tax benefits. Gifts made through your Will can be claimed up to 100 per cent of your net annual income in the year of death and the year preceding.

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