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Federal Budget Proposes Elimination of Capital Gains Tax on Gifts of Publicly-Traded Shares to Private Foundations

April-9-2007

Area Personal Tax & Estates, Charities and Not For Profit

Summary

The latest federal budget proposes to bring donations of publicly-listed securities to private foundations in line with the treatment of donations of publicly-listed shares to charitable organizations and public foundations by eliminating the taxation of capital gains triggered by such donations, effective March 19, 2007. 

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