“O Creator, show us the way to healing
forgiveness and reconciliation
and a renewed fellowship”

(Canadian Catholic Indigenous Council's
Prayer for Tolerance, Forgiveness and Reconciliation)

The goal of this Appeal is to support residential school survivors and Indigenous communities in our province as an ongoing response to the recommendations of the Truth and Reconciliation Commission’s Calls to Action.

Bishop Gary Gordon continues to have conversations with Indigenous leadership, survivors, elders and other community members in the Diocese of Victoria to decide how to disburse the funds that are raised.

This campaign will launch formally in September 2021, at which time further details will be provided. If you wish to donate now, choose your preferred method of donation by clicking one of the buttons below:

E-Transfers Direct DebitDonate NowStocks and Securities PledgePlease forward completed forms and donations to the Pastoral Centre:
Email: appealoffice@rcdvictoria.org
Mail: 1-4044 Nelthorpe St. Victoria, BC V8X 2A1 - Attention: Healing and Reconciliation
Fax: 250-479-5423
(Make cheques payable to "Healing and Reconciliation")

Prior to making a donation or gift, we recommend that donors seek independent professional advice concerning the possible financial, taxation and legal consequences.

PUBLICLY LISTED SECURITIES

This method of planned giving, which provides an immediate source of income to the Church, is advantageous to you because transfers of listed securities to a registered charity will: (a) give you a tax receipt for the full market value of the stocks you donate; and (b) exempt you from tax on the capital gains realized on the disposal of the securities.

When a taxpayer sells publicly traded securities and then donates the proceeds to the Church, he or she pays income tax on the capital gain realized on the sale of the security. While the donor receives a donation receipt for the amount of the gift, the income tax on the realized capital gain can be as high as 46% on one-half (the taxable portion) of the gain.

By contrast, capital gain is free of income tax when the listed security is donated. By gifting the security itself rather than using cash from the proceeds of the sale, the donor can realize a significant tax reduction. 

If you are considering making a cash donation, and you have securities with an unrealized capital gain, then consider donating the security instead. You could donate the number of shares that equal the value of the cash donation you wish to make, thus saving capital gains tax. See chart for a comparison of a Cash vs Publicly Listed Securities donation.

Prior to making a cash donation, you may wish to consider the donation of shares, a debt obligation, a right listed on a prescribed stock exchange, a share of a mutual fund trust, or a prescribed debt obligation where the fair market value of the security is higher than the cost.

Donate

In order to initiate a transfer of securities, please complete the Gift of Publicly Traded Securities Form and forward to the Diocesan Finance Office, Diocese of Victoria, 1 – 4044 Nelthorpe Street, Victoria, BC, V8X 2A1.

Prior to making a donation or gift, we recommend that donors seek independent professional advice concerning the possible financial, taxation and legal consequences.

COMPARISON

  Donation of Cash Donation of Securities*
Donation $20,000 $20,000
Income tax credit in donation $9,200 $9,200
Tax saving due to tax exempt capital gain (up to approximately 23% of gain) — $2,300
Total tax savings $9,200 $11,500
Net cost of donation $10,800 $8,500

 

Assumptions

  1. The examples are based on a British Columbia resident donor.
  2. The lower tax credit rate on the first $200 of annual donations is covered by other donations.
  3. Federal and BC income tax credits are based on a 46% rate.
  4. Assuming value of securities at time of donation of $20,000 and cost of $10,000.
  5. Tax on capital gains is calculated at highest marginal income tax rate for illustration purposes (approximately 23% of gain).