Morneau should donate shares to charity instead of selling them first: experts
OTTAWA — Of all the headaches Bill Morneau is nursing these days, this might be the least of them: what’s the best way to donate millions of dollars in stock-market gains to charity?
Nice problem to have, many Canadians might say.
But even finance ministers have to manage their money, and Morneau is doubtless well aware of the whopping tax bill that will accompany the sale of roughly $21-million worth of shares in his former company, Morneau Shepell.
A cynic might suggest that’s part of the reason he has decided to make a charitable donation out of the difference between what the shares are worth today and what they were worth in 2015 when he first became finance minister — a dollar figure roughly estimated at around $5 million.