Support the Ancaster Agricultural Society and you can receive as much as 53% back through charity tax deductions.
Make the Most Out of Your Charitable Tax Credits!
Not only is giving to charity a great way to make a difference to your favourite cause, but when you claim your charitable tax credits you can also take advantage of federal and provincial government tax incentives. Here are just some of the ways that giving charitably might pay off for you!
People give for a variety of reasons and we want to personalize every gift with a customized, value-added THANK YOU and recognition for each donor.
Please consider donating through one of the following options:
- Cash & Cheques – dropped off at the AAS office at the Fairgrounds
- In kind
- Insurance Beneficiary 6. Real Estate 7. Securities / Stocks / Mutual Funds
Make a bigger impact by donating securities and mutual funds!
A donation of securities or mutual fund shares is the most efficient way to give charitably. With a donation of securities or mutual funds, capital gains tax does not apply, allowing you to give more and avoid paying capital gains taxes. As long as the securities/mutual funds are in a non-registered investment account and can be traded on the Canadian or US stock market, you can donate shares or mutual funds to the charity of your choice. Please note: Due to how involved a security donation is, there is a minimum value to donate securities. For securities that are already in a digital format, and securities can easily be transferred-in-kind, the minimum value is $200. For physical securities that need to be converted to digital, the minimum value is $2,000.
Through our connection with Canada Helps, we make it easy to donate securities and mutual funds. Learn how it works:
Let’s say you purchased common shares in ABC Company for a cost of $1,000 and a few years later they now have a current market value of $5,000. You would have a capital gain of $4,000. The chart below illustrates what happens if you sell the shares and then donate the after-tax proceeds and what happens if you donate the shares directly using Canada Helps.
By donating shares directly, you get a larger tax credit and give more to the charity you care about.
Donate securities, eliminate the capital gains tax and get a larger tax credit
Securities are the most efficient way to give charitably. When you donate publicly traded securities (stocks, mutual funds, bonds, etc.) directly to your favourite charity, you can eliminate the capital gains tax as these securities are sold, and still receive a tax receipt for their full market value. Plus, your charity also gets the full value of the securities.
Consider carrying donations forward for larger charitable tax credits.
You do not have to claim all of the donations you made in the year they were made. When you donate over $200, you are automatically eligible to carry them forward and claim them on your tax return for any of the next five years. This flexibility means that the unclaimed carry forward portion may qualify for a larger tax deduction for you, in the future.