Gift of Securities
Making a gift of appreciated securities is a great way to support Mohawk as a world-class teaching and training institution and will benefit students for generations to come. Your investment today will help accomplish your philanthropic goals while realizing significant tax savings.
Under new rules in the 2006 federal budget, a special tax incentive on gifts of Publicly Traded Securities and Mutual Funds was introduced. When you donate stocks, bonds, futures and options, as well as shares in mutual funds to Mohawk College you will pay no tax on the capital gain (the increase in value, since you acquired the securities). If you sell your securities, tax must be paid on 50 per cent of any capital gain. The combined benefit of paying no tax on the capital gain and the charitable tax receipt you receive provides excellent tax benefits.
Shares can be transferred electronically and in certificate form in the donor's name or re-registered in Mohawk's name. In all cases, the charitable tax receipt will reflect the securities on the date they were received by Mohawk College.
