The benefits of making a gift of securities were significantly enhanced through the May 2006 Federal Budget. Under the new taxation rules, gifts of appreciated securities are now exempt from the taxation of capital gains. Donors will no longer be taxed on the capital gains accrued on securities such as public company shares, bonds, mutual fund units and employee stock options, when donated to a registered charity such as The NJC Fund.
Under the new taxation rules, for example, if a person donates stock that was originally purchased for $400 and now has a fair market value of $1,000, they will receive a tax receipt from Neuchâtel Junior College for $1,000 and will not have to pay any tax on the capital gain of $600. We would be happy to provide personalized illustrations for your situation.
Securities may be transferred directly to NJC’s account by downloading and completing a Gifts of Securities form. Completed forms should be faxed to the Advancement Office at 416.368.0956.