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What We Do > Fundraising > Fine Wine Auction |
On October 21, 2009, the Toronto Symphony Orchestra conducted its annual auction of fine and rare wines, with all proceeds benefiting the TSO and its educational and outreach programmes.
We are now accepting wine donations for our twentieth anniversary auction to be held in October 2010. Download the donor form.
Benefits of donating
- As a donor, you are recognized in the Wine Auction catalogue for supporting the TSO and its education and outreach programs, and you will receive a copy of the catalogue
- If you contribute wine valued at more than $1,500 you will receive two complimentary tickets to a TSO concert
- All donors receive an invitation to an exclusive TSO rehearsal (past rehearsals have included world-renowned guest artists such as Yo-Yo Ma, Lang Lang)
- Your donation is picked up by our wine storage facility free of charge
- You will receive a tax receipt based on the appraised value of your wine donation
- A tax receipt will be provided to donors to use as a personal income tax credit (provincial (ON)/federal):
- 21.05% [*] on the first $200 donated
- Increases to a credit at the highest marginal tax rate of 40.16% [*] of amounts over $200
- For example: a bottle of wine valued at $1,000 will generate a tax credit of 21.05% on the first $200 equivalent to $42.10, and a tax credit of 40.16% on $800 equivalent to $321.28, for a total tax credit of $363.38. Credits apply to reduce basic tax. The greater the donation amount, the greater the tax credit.
- Donors can claim all or part of this credit up to a limit of 75% of net income (except in the year of death or immediately preceding year, the ceiling is 100% of net income).
- Donations must be made by Dec 31st to be claimed against income for the current year. However, as a donor, you do not have to claim all donations on the current-year return. Donors can carry forward donations and claim them for any of the next five years.
[*] 21.05% on first $200 donated - Provincial (ON) 6.05%; Federal 15%
40.16% of amounts over $200 - Provincial (ON) 11.16%; Federal 29% Based on 2009 Provincial (ON) and Federal rates
Should you have any questions, please contact TSVC Assistant General Manager, Rose Moretti-Lawrie at 416-593-7769 ext.359 or rmoretti-lawrie@tso.ca.
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