News & Events Archives for June 2008

Walrus Editor Ken Alexander announces resignation

For immediate release: Toronto: June 10, 2008.

The Walrus Foundation announced today that its Board of Directors has accepted Ken Alexander's resignation as editor of The Walrus magazine. Ken Alexander was one the founders of the five-year-old national general interest magazine and has served as its editor since 2004.

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June 10, 2008 14:58 EST

Help feed The Walrus!
Donate your BCE Shares to The Walrus Foundation.

To The Walrus readers:

Do You Own BCE Inc. Shares?

Did you know that Bell Canada Enterprises (BCE) will cease to be a publicly traded company at the end of June 2008? BCE Inc. shareholders will not have the option to keep their shares and will be subject to a forced sale. Click here to read articles from the Financial Post on the BCE Inc. takeover and its implications.

Save By Donating Securities

Due to recent changes in Canada Revenue Agency guidelines, you can create a huge tax savings opportunity by donating your BCE Inc. shares, or any other securities, to a registered charitable non-profit like The Walrus Foundation. With a donation of stock to The Walrus Foundation you can:

• Avoid paying capital gains tax;
• Get a charitable tax receipt for the full value of your shares;
• Help sustain The Walrus as Canada's premiere magazine for serious, long-form journalism, and help our intensive internship program and public debates thrive.

It's a win-win situation for everyone involved.

How do I save by donating BCE Inc. shares?

The privatization of BCE Inc. will have tax consequences for many shareholders. Since cash consideration is being offered by the group led by the Ontario Teachers' Pension Plan, the exchange of cash for shares will result in a taxable event unless those shares are held in a registered (tax deferred) account such as a RRIF or RRSP.

Shareholders will realize either a capital gain or loss on their shares depending on the adjusted cost base (ACB) of their shares, which will need to be calculated by every shareholder. That ACB is based on the original purchase price of the shares (cash cost or dividend reinvestment value), but may be affected by how long the shares have been owned, and whether a capital gains exemption was claimed at February 22, 1994.

The May 2, 2006 federal budget included provisions that resulted in donations of publicly traded securities to registered charities being 100% free of capital gains tax. Many charities such as The Walrus Foundation have set-up brokerage accounts which will allow them to receive donations of securities such as these BCE Inc. shares in exchange for charitable tax receipts for the full market value of the shares at the time of the donation. As long as the shares are donated before the privatization takes place (predicted to be during early 2008 by analysts) the donor not only saves any tax on the accumulated gains, but is allowed to claim the charitable donation for the full value of the donated shares.

If instead the shareholder waited until after the privatization, they would have to report any capital gain on their tax return and make the donation out of after-tax funds ? generally resulting in less cash to their charity of choice. Please contact your financial advisor for further information.

When to Donate

Now! Once the BCE Inc. sale takes place, its shares will be de-listed and will no longer qualify for the capital gains exemption. So don't wait ? donate your shares of BCE Inc. to the Walrus Foundation today. One hundred percent (100%) of all donations will go towards funding The Walrus Foundation, our mandate of extending public discourse on matters vital to Canadians, and to supporting writers, artists, readers and ideas.

How to Donate

It's as easy as 1, 2, 3!

1. To donate your BCE Inc. shares, or any other securities, simply fill out a Securities donation form, which you can download by clicking here. You can also find more information on our website.
2. Provide this form to your broker to initiate the transfer of donated shares with The Walrus Foundation's broker. Your broker should be instructed to call Suzy Brown of Nesbitt Burns at (416) 861-1242 or (416)365-6007 (fax), and ask them to transfer your publicly traded securities to the Walrus Foundation, Account Number
   4152521813.
3. Contact me, Shelley Ambrose, publisher of The Walrus and executive director of The Walrus Foundation, to ensure quick processing of your gift of shares. A tax receipt for the full value of your shares will be issued.

Making The Walrus a haven for quality long-form journalism in Canada would not be possible without your generous and continued support. Thank you!

Please give generously.

Yours faithfully,

Shelley Ambrose
Executive Director, The Walrus Foundation
Tel: (416) 971-5004 ext. 236.
Fax: (416) 971-8768
Email: shelley@walrusmagazine.com

June 09, 2008 10:36 EST