Yesterday a new non-profit program called Sharity, ‘shares to charity’, was launched in Sydney. This program is designed to turn parcels of shares into charitable donations to six recipient charities: Sir David Martin Foundation, Westpac Life Saver Rescue Helicopter Service, Salvation Army, Sir Roden Cutler Charities, Surf Life Saving Australia and Cancer Council NSW.
Through Sharity, Australian shareholders can gift their shares directly to one of the six charities, without having to pay brokerage fees or commissions, with all gifts over $2 being fully tax deductible.
Sharity was formed in 2002 by Australian company Worthington Clark Pty Ltd, and in 2007 was involved in lobbying the Federal Government, resulting in a change in tax laws that allowed individuals to claim a tax deduction for a gifted donation of shares of any value in a publicly listed company.
Find out more at the Sharity website: www.sharity.com.au
Nov. 18, 2008
Sign up to our weekly e-newsletter for sector news, expert opinion and resources.