RBC Dominion Securities launches Charitable Gift Program
TORONTO, May 23, 2006 — Making a difference
through charitable contributions has just been made easier
with the launch of RBC Dominion Securities Charitable Gift
Program today. The Program provides a tax efficient, convenient
way for individuals to create a lasting legacy through contributions
to a personal charitable gift fund, without the complicated
administration and costs associated with establishing a private
foundation.
The recent Federal Budget announced the elimination of capital
tax gains on donations of publicly traded securities. As a
result, donating securities to a charitable organization may
produce a greater tax benefit for donors than donating cash
to a charity after selling the securities.
The RBC Dominion Securities Charitable Gift Program enables
clients to make ongoing contributions to a fund administered
by the Charitable Gift Funds Canada Foundation (CGFCF), one
of the leading foundations in the country. Donors receive
an official charitable donation receipt for the full market
value of their contributions. Gifts of qualifying securities
may also be eligible for a capital gains tax exemption.
"This is a winning solution, both for charities and
for investors," says Anthony Maiorino, vice-president,
RBC Dominion Securities. "Canadians have always been
generous, and this program is a response to our clients' wishes
to include charitable gifts in their long-term financial plans."
Clients can contribute cash or qualifying securities to the
CGFCF fund, then recommend grants to the charitable organizations
of their choice based on the amount of accumulated investment
earnings available in their account. They can also make a
deferred contribution by naming their Charitable Gift Fund
account as the beneficiary of a charitable bequest, a life
insurance policy, a qualified registered retirement plan,
a charitable remainder trust or another existing private foundation.
The program can help clients create an enduring family legacy
by giving their fund a unique name. They can also name grant
advisors and successors to the fund to ensure their family's
legacy. If there are no surviving successors after they pass
away, CGFCF will continue their legacy by awarding grants
to eligible charities consistent with the client's original
intent.
More information on the Charitable Gift Program is available
by contacting any RBC Dominion Securities Investment Advisor
or RBC Dominion Securities branch in Canada: http://dir.rbcinvestments.com/.
About RBC Dominion Securities
RBC Dominion Securities is Canada's leading wealth management
firm and has been helping Canadian investors since 1901. Clients
include affluent individuals, families, businesses, charities
and organizations primarily concerned with building and preserving
existing wealth. More than 1300 Investment Advisors and portfolio
managers located in 100 branches across Canada provide comprehensive
wealth management solutions on both an advisory and discretionary
basis to help clients achieve their goals.
RBC Dominion Securities partners closely with its affiliates
as part of RBC Financial Group, which has been named "Canada's
Most Respected Corporation" for four consecutive years
by the annual KPMG survey of CEOs conducted by Ipsos-Reid.
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For further information, please contact :
Kathy Bevan, Media Relations (416) 974-8810
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