Bradken Limited is pleased to support ShareGift Australia, which gives shareholders the opportunity to sell and donate small parcels of shares to charity without the need to appoint a stockbroker or pay brokerage fees.
ShareGift Australia is a not-for-profit organisation who provides a transparent and tax-deductible way for shareholders to convert their small shareholdings into significant donations for Australian charities. Many individuals hold small parcels of shares that may cost more to sell than the shares themselves are worth.
Once a shareholder has completed a donation form which can be found on the ShareGift website at www.sharegiftaustralia.org.au, ShareGift sells the shares and distributes the proceeds to Australian charities holding deductible gift recipient status. The Shareholder will not need to pay brokerage costs and will receive a letter with details of the share sale as a receipt for taxation purposes.
The proceeds are then distributed to eligible charities and donors are invited to recommend charities to receive donations. The board of ShareGift Australia considers these recommendations and has the discretion to determine which charity will receive any cash donation and the amount and timing of such gift.
In the June 2014 quarter, ShareGift Australia received donations of $90,000 to distribute to 68 charities, which means that total donations have now reached $749,250 to over 340 Australian charities.
How it works
- Complete a donation form
Shareholders complete a Share Sale Donation Form which authorises the sale of their shares and the proceeds to be directed to ShareGift Australia. The first $10.00 from each donation stays with ShareGift Australia to support this service.
- Recommend a charity
Shareholders are welcome to recommend their favourite charity where the value of the donation exceeds $50. Donations are only made to Australian charitable organisations with eligible deductible gift recipient (‘DGR’) Item 1 status.
- Shares are sold
ShareGift Australia arranges for the shares to be sold via their supporting stockbrokers who do not charge brokerage fees. A sale confirmation letter is sent to the donor for tax purposes, once the shares are sold.
- Share sale proceeds are donated to charity
Each quarter the ShareGift Australia Board reviews all donors’ charity recommendations and donates the share sale proceeds to support a wide variety of causes such as international development, animal welfare and the environment.
More information can be found on the ShareGift website: www.sharegiftaustralia.org.au