Q: Hello. I would like to add to an answer given today about selling TD Bank shares with significant capital gain and Tax mitigation
Asked by Dave: "Can you suggest any way to mitigate/reduce any tax hit if I were to dump my TD shares?"
If an investor is so inclined, it is beneficial to Donate shares where upon donation there is zero capital gains tax and the full amount of the share sale value is considered a charitable donation.
With annual charitable donations, I have been running off gains this way for years.
Asked by Dave: "Can you suggest any way to mitigate/reduce any tax hit if I were to dump my TD shares?"
If an investor is so inclined, it is beneficial to Donate shares where upon donation there is zero capital gains tax and the full amount of the share sale value is considered a charitable donation.
With annual charitable donations, I have been running off gains this way for years.
5i Research Answer:
Thank you; we should have included this as an option, certainly it can be helpful if one was...