Benefit by Giving at Year-End

Year end donation
by Linda Leigh
Categories: Blog
Share:

When you make a gift by December 31, you not only do more for others than you may have expected, your gift is tax deductible and you improve your own financial position.

Giving several types of gifts is still possible this year. The following are options that may also serve as future strategies.

  • General Donations:  General donations are simple and direct. You can make an unrestricted donation to be used where the need is greatest, or designate your gift for a specific program.
  • Gifts of Securities: Stocks or other investments increase in value after they have been purchased.  Unfortunately, when you convert your investment to cash, the capital gain is taxable. By directly donating your publicly listed securities to The Salvation Army, you will pay no capital gains tax on their increase in value.

A large portion of The Salvation Army’s fundraising occurs during its Christmas campaign. These donations set the precedent for the upcoming year and the organization’s ability to serve the millions of people in need across Canada.