Gifts of Stock, Securities & Insurance

Gifts of Stock & Security

To encourage charitable giving, the Government of Canada eliminated the capital gains tax on the charitable donation of publicly traded securities offering individuals an attractive option to make donations to charity.

If you own publicly traded securities or mutual funds that have increased in value, you may want to consider donating these securities to Milton District Hospital Foundation.  The benefit of this plan is two-fold; fulfill your wish to make an important gift and then reward yourself by maximizing your tax benefits by avoiding the capital gain and receiving a charitable tax receipt (credit) which will offset almost half of your resulting tax bill.

After consultation with your professional advisor, decide which appreciated securities or mutual funds you wish to donate and instruct your broker to transfer these shares electronically to Milton District Hospital Foundation. This scenario works only with the donation of stock directly to MDHF.

Contact us in advance and we will provide the necessary information to help facilitate a smooth and prompt transfer.  Click here for the Letter of Authorization to Transfer Shares to Milton District Hospital Foundation for your broker.

You will receive a charitable tax receipt for the closing price of the securities on the date received by the Foundation’s brokerage.

Gifts of Insurance

There are many reasons to give the gift of a new or existing life insurance policy naming Milton District Hospital Foundation (MDHF) as a beneficiary.  First and foremost, you will be helping to make a difference in someone’s life through an investment in providing the best possible healthcare to our community.

A gift of life insurance is a simple and affordable way to make a future major gift to MDHF without reducing the assets in your estate.

• Donate an existing policy, making MDHF the owner/beneficiary. Receive a charitable tax receipt for the cash surrender value and for all future premiums you pay. Save estate probate taxes when proceeds on death pass on to the hospital.

• Take out a new policy and assign ownership to MDHF. Receive a charitable tax receipt for all premiums you pay. Save estate probate taxes when proceeds on death pass on to MDHF.

• Retain ownership of the policy (personal or Group Life); name MDHF as the direct beneficiary upon your death. Your estate will receive a tax receipt for the amount of the proceeds received by MDHF.

Alternatively, if you wish to make a gift of cash or property now and watch it work, an insurance policy can replace those assets in your estate, and your current gift will earn tax credits that can be spread over six years.

Our recommendation is always to consult with your professional advisor when you are considering a gift of Insurance.

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