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Gifts of securities are a tax-effective opportunity to transform an asset into immediate and significant
support for the Abbey Retreat Centre. You can help us deliver programming and support to people living
with cancer now and into the future.
High income earners need to be aware that the 2023 Federal Budget proposed the CRA reduce the amount of donation allowance as well as capital gains tax exemption on securities that are donated to charitable organization on January 1, 2024.
This has not yet passed into law as of November 21, 2024.
If you intend to donate securities, you are encouraged to contact your tax advisor to see how this would affect you and whether it would be advantageous to donate securities in 2023.
If you decide to donate in 2023, you need to put this in motion no later than December the 15th to ensure the securities are received for tax receipt purposes by December 29th which is the last business day of 2023.
When you make a gift of securities to the Abbey Retreat Centre, you provide community, support, and life-enhancing resources to people who are facing a cancer diagnosis.
If you have been touched by cancer, you know how healing it is to have opportunities for rest, reflection, friendship, and an introduction to practices that help soothe, strengthen, and tend to the body, mind, and soul in the midst of a cancer experience.
Abbey Retreat Centre’s cancer support programs are increasingly recognized as innovative and critical additions to whole-person cancer care in Canada.
Thank you for your donation. Every gift makes a significant impact.
| Sell securities for cash. Donate after-tax proceeds | Donate securities directly to Abbey Retreat Centre | |
|---|---|---|
| Market Value of Securities | $10,000 | $10,000 |
| Original Cost of Securities | $2,000 | $2,000 |
| Capital Gain | $8,000 | $8,000 |
| Tax on Capital Gain | $1,9341 | $0 |
| Donation Amount After-Tax | $8,0662 | $10,000* |
| Your Charitable Tax Credit | $3,9003 | $4,835** |
* The Abbey Retreat Centre received an extra $1,934 when you donate securities directly. That’s enough to cover the cost of 1 in-person retreat participant.
** Your tax credit increases by $935
1 One-half of capital gains are added to taxable income. A 48.35% marginal tax rate has been used in our calculation of the taxable portion of the capital gain.
2 $8,066 is the $10,000 value of securities minus the estimated tax of $1,934.
3 The donation amount multiplied by the 48.35% marginal tax rate.
You may wish to check with your tax advisor on the capital gains exemption and Tax Credit that is specific to you.
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All donations up to a total $25,000 will be matched by a generous donor!
