What is ShareGift?
Your small share parcels can now be easily sold via an initiative which can benefit SIMaid, at no cost to you and in a tax-effective way - through ShareGift Australia.
You won’t have to use a stockbroker, there are no brokerage fees and you can nominate that SIMaid benefit from ShareGift distributions.
How does it work
In the past, you had to sell your shares before donating them to any charity, which involved appointing a stockbroker and paying brokerage fees as well as dealing with complex and time-wasting paperwork. Even if you wanted to ‘tidy up’ your share portfolio, small amounts of shares were difficult to dispose of because of the costs involved i.e. brokerage.
However thanks to ShareGift Australia, selling shares for charity takes just minutes and costs you nothing. ShareGift Australia is a not-for-profit organisation that sells the shares on your behalf and then donates the proceeds to charity. It’s straightforward, and you earn a tax deduction for your charitable donation.
|No Donation||Donation without ShareGift||Donation to ShareGift|
|Decide to sell||$200||$200||$200|
What is the process?
- Print out and complete the ShareGift donation form which can be obtained either from our website or sharegiftaustralia.org.au.
Download the Form
- Post the form to ShareGift Australia, GPO BOX 4370, Melbourne VIC 3001, Australia.
- ShareGift will arrange for the shares to be sold through one of their participating brokers free of brokerage.
- You will receive a separate letter from ShareGift Australia with details of the share sale, which you can keep as a receipt for tax purposes.
You can help SIMaid help those in need by donating, sharing this site with your friends and linking to us on Facebook and Twitter.