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 charity and to make a difference.

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.

Why shouldn’t we as a Company just donate $20,000 to a Charity?
A donation directly to any charity would be most welcome and a good tax deductible donation. There is no reason why a company would not consider this.

Sharity offers an opportunity for companies to reduce their share register by giving small shareholders a choice to gift their shares and donate the proceeds directly to a charity of their choice.

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 Andrew West Stockbrokers.

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.

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 Andrew West Stockbrokers).

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.