With a Donor Advised Fund, you can take advantage of 2023 tax rates on appreciated securities, and decide later what charities you want to support.
If you have appreciated securities there are big changes coming in January 2024, that will make donating them to a registered charity less favourable for the donor.
Effective January 1, 2024, the calculation of the Alternative Minimum Tax (AMT) for Individual taxpayers will include 100% of capital gains on donations of publicly traded securities up from the current 50%. Also, only 50% of the donation tax credit will be deducted in calculating AMT, down from the current 100%.
We can help.
The Foundation offers quick turnkey solutions to enable a donation before year-end and opportunities to give through a donor-advised fund solution. We have a number of fund solutions including short-term, long-term, flow-through, and endowment, and our team is here to walk you through each option and help you select the one that’s right for you.
We are also home to the largest scholarship and bursary hub in the Region, so if supporting education is important to you, The Foundation can assist you in tailoring a scholarship that connects with your interests.
Our friends at PearTree have put together a thorough session examining the AMT and what it will mean for donors. It’s a great place to start if you’re looking to really understand the finer tax implications that will soon be in effect.