Who is Sharity?
Sharity or “shares to charity” is a 100% Australian owned and managed company formed in Sydney in 2002 by Worthington Clark Pty Ltd. Sharity helps those Australians with a small number of shares and a desire to support the local community to gift their shares to a charity of their choice.

Why not sell the shares and donate the money to charity?
Through Sharity, shareholders have the opportunity to gift their shares directly to charity without having to pay brokerage fees and receive a fully tax deductible receipt for gifts over $2.00.

Can any shares be donated?
Yes, but the shares must be Issuer Sponsored Holding shares. If your shares are held as a Chess Holding you will need to ask your Broker to transfer the shares from a Chess Holding to an Issuer Sponsored Holding. You will receive a new SRN confirming the transfer has been done. You can then send the transfer form directly to Sharity.

When can the shareholder claim a tax deduction?
The charity will issue a tax deductible receipt when they receive the signed share transfer form or when they receive notice that shares have been transferred by CMC Markets Stockbroking.

The shareholder should be aware by signing the transfer form they are gifting the shares to the charity. This sale may constitute a Capital Gains Tax Event, and result in a Capital Gains Tax Gain or Loss.

Does Sharity comply with Corporations Law, Taxation Law, ASX regulations?
Yes.

For more information regarding share donations please go to www.ato.gov.au

Do the stock sales go through the Australian Stock Exchange?
No they are off market transactions. This means that the shares will be transferred to the nominated charity and the charity will trade the shares cumulatively at a later stage.

Will the full value of the shares be donated to the charity or are there deductions for expenses and commission?
The full current market value of the shares will be donated directly to the charity. There are no deductions for brokerage or commission or any other expenses (unless you decide to use the fee for service provided by CMC Markets Stockbroking).

What if the shares increase in price after the share transfer form is signed?
The charity will provide a receipt with the details of the transferred shares at the time they are received.

It is the responsibility of the giver to establish a valuation of the gift for purposes of claiming an income tax deduction.