Taking Stock


Many of us have had the good fortune of investing wisely in various types of securities,
ranging from stocks to mutual funds. You may feel that the time is right to take
advantage of many years of market growth and sell some securities that have appreciated
significantly in value.

In other cases, you might be required to tender your securities into a cash
takeover bid, as is the case with the upcoming acquisition of Bell Canada Enterprises
(BCE). Here’s an example of a company whose stock has made considerable
gains over the years and whose shareholders will be required to tender their
shares in early 2008.

The downside to selling is the capital gains taxes you have to pay when you
sell shares that have appreciated in value. Did you know that 50% of the capital
gain is taxed as ordinary income? This means that in many cases, as much as
23% of the money you’ve earned through your investments will be paid in

There’s a way to reduce this tax burden. The government has eliminated
this tax when you make a donation of securities directly to charity.

In addition to the elimination of the capital gains tax, if you donate securities,
you will receive a charitable tax receipt that can be used to offset taxes on
other shares you may wish to liquidate or offset other taxable income.

In addition to saving taxes, you are also saving lives! Our specialists at
University Health Network (comprising Toronto General Hospital, Toronto Western
Hospital and Princess Margaret Hospital) continue to improve the lives of patients
by making medical discoveries and providing a level of care that is unsurpassed
in Canada and across North America. Your support will enable us to recruit and
retain their talents, and equip them with state-of-the-art tools to improve
health care in our community and around the world.

December is a great time to make a gift of securities to Toronto General &
Western Hospital Foundation before the end of the tax year. We can help you
with this process.

Call 416-340-3935, email [email protected],
or visit us at www.tgwhf-uhn.ca.