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What We Do > Fundraising > Fine Wine Auction |
The 22nd Annual TSO Fine Wine Auction will be held on Thursday, November 8, 2012, at CIBC, Commerce Court West, 199 Bay Street, 56th Floor, Toronto. Stephen Ranger, Canada's leading auctioneer for charitable and fundraising events, will once again conduct the auction. Proceeds from the wine auction, one of the TSO's largest fundraisers of the year, benefit the TSO and its educational and outreach programs.
See photos and details of our wine inventory, housed in Iron Gate’s wine storage facility.
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| Benefits of Donating Wine
The Volunteer Committee is now accepting donations of your wine cellar or any portion thereof for this prestigious event. To make a donation, call the TSVC office at 416.593.7769 x359 or email tsvc@tso.ca or download the wine donor form (PDF 61 kb).
- You will receive a tax receipt based on the appraised value of your wine donation.[*]
- 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 (subject to availability). Past rehearsals have included world-renowned guest artists such as Yo-Yo Ma, Lang Lang, and Itzhak Perlman.
- 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 complimentary copy of the Wine Auction catalogue.
- Your donation is picked up by our wine storage facility free of charge.
- A tax receipt will be provided to donors to use as a personal income tax credit[**] :
- 20.05% [**] 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 total tax credit of $361.38
- tax credit of 20.05% on the first $200 equivalent to $40.10
- and a tax credit of 40.16% on $800 equivalent to $321.28
- for a total tax credit of $361.38
- 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.
[*]Tax receipts are issued in accordance with Canada Revenue Agency (CRA) guidelines.
[**] 20.05% on first $200 donated - Provincial (ON) 5.05%; Federal 15%
40.16% of amounts over $200 - Provincial (ON) 11.16%; Federal 29%
Based on 2011 Provincial (ON) and Federal tax credit rates
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Benefits of Buying Wine at the TSO Auction
- Wine buyers pay only the hammer price on wine purchases. There are no additional taxes, fees or commissions because we are formally recognized as a charity auction.
- Buyers are supporting the TSO, one of Canada's major cultural organizations.
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