Share Gifting
Did you know that you can gift shares in Australian listed companies to help Australian children get a good beginning?
ShareGift Australia is a not-for-profit organisation (endorsed by the ASX and Australian Shareholders Association) that provides you with the opportunity to sell your shares and donate the proceeds to Good Beginnings, without having to pay brokerage fees. There is no need to use a broker which means there are no brokerage or other fees involved in using the service. ShareGift distributes 100% of the proceeds with administration expenses covered by sponsors, and makes the process easy & tax effective.*
Often Australian shareholders have parcels of shares which are below ‘marketable’ value (less than $500) which means they can’t be sold on the sharemarket. If you have any unmarketable parcels of shares, donating them to Good Beginnings is a great way to tidy your affairs and support a worthy cause at the same time.
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:
|
|
No Donation
|
Donation share proceeds to Good Beginnings without ShareGift Australia
|
Donation share proceeds to Good Beginnings through ShareGift Australia
|
|
Value of Shares
|
$200
|
$200
|
$200
|
|
Brokerage Fee
|
$30-$125
|
$30-$125
|
$0
|
|
Tax Refund*
(assuming highest
marginal tax rate,
plus Medicare levy)
|
$0
|
$35-$79
|
$93
|
|
Personal Benefit to you
|
$75-$170
|
$35-$79
|
$93
|
|
Benefit to Charity
|
$0
|
$75-$170
|
$200
|
Donations over $2 are tax deductible
Here’s how to make a donation using ShareGift Australia:
1. Print and complete the donation form
2. Post the form to ShareGift Australia, GPO Box 4370, Melbourne, VIC 3001.
3. ShareGift Australia will arrange for the shares to be sold (ShareGift may contact you if needed)
4. You receive a letter from ShareGift Australia with details of the share sale, which is a receipt for tax purposes.
Your donation helps ensure a good beginning for every child in Australia, no matter what their circumstances. Download the donation form now to sell and donate the proceeds of your shares to support Good Beginnings.
* Good Beginnings does not provide tax advice. Please consult your accountant or tax consultant at your discretion.