Where Our Tax Dollars Are Going

[CHIMO]

An e-mail that I received.

The Federal Budget released earlier this week provides increased incentive to donors.

While the option of donating publicly-listed securities to charities has been available for some time, the federal budget of May 2, 2006 has made it a much more attractive proposition.

Effective immediately, donors will no longer be taxed on the capital gains accrued on securities such as public company shares, bonds, mutual fund units and employee stock options donated to a registered charity like XXX University. This is excellent news for the University and for our donors.

Under the new taxation rules, if a person donates stock that was originally purchased for $400 and now has a fair market value of $1000, they will receive a tax receipt from XXX for $1000 and will not have to pay any tax on the gain. We would be happy
to provide personalised illustrations for your jurisdiction.

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So now we will hear how much Our Government is contributing to higher education while they reduce their contribution. Now Our Universities can become self funded.