BCE Shares: Charities Seize the Opportunity
If you have recently gone on to your favourite charity’s website or received correspondence from a charity you donate to, you will likely notice an advertisement asking if you own BCE shares.
The privatization of BCE shares means that some shareholders are now looking for a way to minimize their tax liabilities from the sale of shares. Some financial advisors have advocated the direct transfer of the publically traded securities to registered charities as one way to minimize any capital gains.
Since 2006, charities seem to have benefitted from the elimination of capital gains for donated shares. In turn, charities have become more sophisticated and take a business-like approach to attracting potential donors of shares. By providing the contact information of a gift planner, easy to fill out share transfer forms with step-by-step instructions, and information about the advantages of share donation, charities are hoping shareholders donate their shares directly to them by presenting them with a win-win situation.
Additionally, charities are providing more information to potential donors about estate planning and the potential tax benefits of donations-in-kind, such as the transfer of shares. Charities and private foundations are sending the message to potential donors that donors can benefit on multiple levels through different types of donations and charities are there to assist them with their choices.
Enjoy your weekend,
Diane Vieira
