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Yeah, in Canada there are relatively huge tax benefits from donating appreciated assets: both foregoing the capital gains on the appreciation and getting a tax
by Scoundreller 3y ago
Yeah, in Canada there are relatively huge tax benefits from donating appreciated assets: both foregoing the capital gains on the appreciation and getting a tax credit for the market value.
And on a big donation that the charity inevitably sells, the other shareholders pay the price when they get dumped on the market (but you still get the pre-sale valuation).
Aaaaand if you arrange to get family naming rights to the whole org, a building or faculty, the taxman still considers it a "no personal benefit" 100% eligible donation.
Normies donating employment income could only dream of that degree of escaped taxes. The tax benefits won't even cover the income taxes you paid at 6 figure incomes. Go to a dinner fundraiser and they're sure to exclude the dinner value from your charitable receipt.
- hgsgm 3y agoIt's very similar in US.