gifts of stock

Avoid taxes by donating stocks

Another tax season is behind us. Are you looking for ways to save on taxes this year? Donating appreciated stocks and securities is one of the best ways to save more – and maximize your giving. Here’s how it works.

Two tax savings

Usually, when you sell shares for cash, even if you plan to donate the proceeds to charity, you’re responsible for paying tax on fifty percent of the capital gain. But if you donate the securities directly to Michael Garron Hospital Foundation, you don’t pay capital gains tax.

And, we will give you a charitable tax receipt for the full market value of your contribution (just like a cash gift). Your donation will result in a non-refundable tax credit which you can use to reduce other taxes owing.

Meet Joan

Joan Besen has been donating to Michael Garron Hospital for many years because of the outstanding care that MGH has always provided for her, her family, friends, neighbours, and all of the East Toronto community. She shares a recent example.

“Thanks to the remarkable orthopedics department at MGH, I was able to recover from injuries which had the potential to be permanently life-limiting. The excellent care I received provided me with even further confirmation of how fortunate we are to have this unique and valuable institution in our part of Toronto,” Joan says.

As a long-time supporter of Michael Garron Hospital, Joan used to make annual cash gifts until she learned of the benefits of donating stock.

“When you hear about it at first, it sounds like a fancy, sophisticated thing that might be hard to do, and is probably only for rich people,” she says. “But as my financial advisor has explained to me, it turns out regular people like me can do it as well. I’m not someone who is in a position to do this every year, but when I am, I like to make my donation using stock.”

“Donating appreciated stocks may allow you to donate a larger amount than you might be able to give in cash."

For our stock transfer form or more information, please visit

Michael Garron Hospital Foundation encourages you to consult your own professional advisors to get specific advice regarding your own circumstances, and those of your dependants.