Fleming College

If you own Bell shares you might already know that Bell Telephone Ltd, now BCE Inc., is about to be acquired by the Ontario Teachers’ Pension Plan – and the new owners are offering common shareholders $42.75 Canadian per share in the first quarter of 2008.That means you could face a large and unexpected capital gain. One share of BCE Inc. purchased in 1977 has an adjusted cost base of $0.25* as a result of various stock splits, spin offs and other transactions. Since November 2006, the shares have increased by 60 per cent. With 50 per cent of capital gains being subject to tax in Canada, you may want to look at ways to cushion the blow.Here is a way to decrease your taxes and increase your giving. Before December 31, 2007 donate your BCE Inc. shares directly to Fleming College Foundation. You will receive a donation receipt based upon the market value on the date of donation and be entitled to a tax credit for 100 per cent of your pre-tax dollars.What is unique about donating these shares to the Fleming College Foundation? You can double your impact through the Ontario Trust for Student Support (OTSS) program. Currently the provincial government is matching dollar for dollar all donations directed to endowed bursary and scholarship funds for students in financial need. Remember you need to complete this before Monday, December 31, 2007 for the maximum tax benefits.*Note: the Foundation Office will be closed beginning at noon on Friday, December 21 reopening at 8:30 am on Wednesday January 2, 2008. For tax benefits in the 2007 tax year, the sooner you get in touch with us and your financial advisor the better as processing can take several days.Your donation of publicly traded securities is exempt from capital gains tax as a result of the May 2006 federal budget and a donation of those securities eliminates your capital gain exposure. You may also choose to use all of your tax credit in the year of donation or you may carry forward all or part of the credit for five subsequent years.For more information please contact Greg Mather, Executive Director, Fleming College Foundation at 705-749-5509.