ShareGift: a brilliant concept!
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Did you know that there are over 900,000 Australians who own small parcels of shares that add up to in excess of $93 million? If you are one of these investors, you might be very interested in this unique service that will not only save you money but help those in need.
ShareGift Australia provides a unique opportunity for people who own a few shares, or even a lot, and want to make a difference. A not-for-profit organisation and registered charity, ShareGift Australia provides investors with a convenient and cost-effective way to sell small parcels of shares that would normally be expensive to trade and then donates the proceeds to charities.
In just nine years, it has been responsible for donating over $1,357,000 to more than 400 Australian charities.
How does it work?
It is really quite simple. ShareGift Australia facilitates the sale of shares at full market value on behalf of the shareholder (via its supporting brokers) and then distributes the funds to eligible Australian charities. If the proceeds of the sale exceed $50 the shareholder can nominate a charity to receive a distribution.
It is an excellent way of donating because the benefactor doesn’t pay brokerage plus they receive a tax deduction of the full sale proceeds (if the donation is over $2.00).
Who benefits?
In a nutshell, everyone involved. Here’s a true story to explain...
A shareholder, let’s call her Anne, received a letter from her adviser about ShareGift Australia and was extremely interested in how it all worked. Anne was a generous but cautious person so decided to test the service with a few shares worth around $100. As the donation exceeded $50, she was invited to nominate a charity. Anne was impressed with how easily it all worked and not only did she save money by not having to pay brokerage on such a small sale, her charity received a distribution in that quarter.
She was impressed by how easy the process was and so decided to donate a larger parcel of shares valued at just over $24,000. Anne chose to donate shares directly rather than go to the trouble of selling the shares herself and donating the cash that was left over. As part of its due diligence, a representative from ShareGift Australia called Anne to confirm the donation and was delighted by her generosity. On this occasion the ShareGift Australia Board determined that the entire amount be distributed to Anne’s recommended charity. Anne was over the moon to learn that her charity received almost $25,000, not to mention how pleased the charity was to receive this wonderful gift.
Other options
ShareGift Australia is a flexible service because every share makes a difference. You can donate one or 100 shares, you can bequeath shares in your will or you can even donate cash.
For full information about this brilliant concept, visit the ShareGift Australia website – www.sharegiftaustralia.org.au. If you have any share odds and sods you want to sell, this could be the perfect solution.
