Your small share parcels can now be easily sold via an initiative which can benefit The Heart Research Institute, at no cost to you and in a tax-effective way - through ShareGift Australia. You won’t have to use a stockbroker, plus there are no brokerage fees.
In the past, you had to sell your shares before donating them to any charity, which involved appointing a stockbroker and paying brokerage fees as well as dealing with complex and time-wasting paperwork. Even if you wanted to ‘tidy up’ your share portfolio, small amounts of shares were difficult to dispose of because of the costs involved i.e. brokerage.
However, with ShareGift Australia, selling shares for charity takes just minutes and costs you nothing. ShareGift Australia is a not-for-profit organisation that sells the shares on your behalf and then donates the proceeds to charity. It’s straightforward, and you earn a tax deduction for your charitable donation.
You can sell any amount of shares in any ASX-listed company through ShareGift. The table below illustrates the advantages of converting $200 of shares to charitable donations through ShareGift Australia versus selling them conventionally and then donating the funds:
Donation without ShareGift
Donation to ShareGift
Decide to sell
* All donations over $2 are tax deductible
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