Donating securities is a great way to make a significant investment in your beloved Symphony Orchestra. It gives you more giving power while reducing the amount of income tax you will have to pay.
When you make a gift of securities to the Mississauga Symphony Orchestra, you know that your are securing the existence of the Orchestra, you are investing in the ongoing musical education of the children, our next generation, and you are supporting the ever changing culture of your community.
Donating securities has twice the benefits as making a regular cash donation. Not only will you get a charitable tax receipt, but you will also eliminate capital gains tax on the donated securities.
How does it work? When you make a gift of securities, you receive a charitable tax receipt for the full market value (closing price) of your securities on the day of the deemed disposition, providing you with a non-refundable tax credit that will reduce your income taxes. You can use this tax credit in the year of your gift or carry it forward for up to five additional years.
In addition to getting a charitable tax receipt, you pay no capital gains tax on the appreciated value (increased price) of your securities. Therefore, a wise strategy might be to donate securities that have a very low cost base and that have appreciated significantly. We always advise to speak with your investment advisor or accountant to decide how best to donate your securities.
So donating securities to the Mississauga Symphony Orchestra helps you:
– avoid tax on capital gains
– maximize your return on your investment
– protect your tax credits for use against other taxable income
– make a larger contribution to your charity
The chart below shows the tax advantage of donating securities to the Mississauga Symphony Orchestra instead of selling them and donating the proceeds*.
| Sell Securities For Cash Donate After Tax Proceeds | Donate Securities Directly Through Our Website | |
| Original Cost Of Securities | $1,000 | $1,000 |
| Current Market Value | $5,000 | $5,000 |
| Capital Gain | $4,000 | $4,000 |
| Tax On Capital Gains ** | $920 | $0 |
| Donation Amount After Tax | $4,080 | $5,000 |
| Your Charitable Tax Credit | $1,876 | $2,300 |
Your Charitable Donation Is $920 More Your Tax Credit Is $424 More!
* Scenario assumes a marginal tax rate of 46%
** $4,080 represents the full value of $5,000 minus the estimated tax of $920
This scenario is for illustration purposes only and will vary depending on each individual’s tax situation.
A gift of securities is a win for you and a win for your beloved Orchestra. You are able to donate $920 more AND your tax credit is $424 more!
For more information, contact Claudine LaRochelle at 416-704-0238 or email.
The Mississauga Symphony Orchestra has been active in Mississauga since 1972. It has been a resident tenant inside the Living Arts Centre since 1997. The Mississauga Symphony Orchestra has grown significantly in both membership and profile, and is now proudly designated as one of Mississauga's six pillar institutions of arts, culture, and heritage.
