Interview Opportunity - How to Give Smarter this Holiday Season... and into
2010

TORONTO, Dec. 1 /CNW/ - The majority of Canadian boomers plan to increase or maintain their level of charitable giving in the next five years, according to a report from the BMO Retirement Institute. According to a Statistics Canada report recently released figures show a 5.3 per cent decline in donations in 2007. Despite economic downturn or upturn, how can Canadians keep support for charities?

Marvi Ricker, VP and Managing Director, Philanthropic Services, BMO Harris Private Banking and Tina Di Vito, Director, Retirement Strategies, BMO Financial Group can provide insight on a new report entitled The Evolution of Giving: From charity to philanthropy, plus other topics. Go to www.bmo.com/RetirementInstitute for the full report.

Do you want to know if:

Is Cash King or are Stock Options Better?

In an effort to increase charitable donations, recent federal budgets have fully eliminated the capital gains tax on donations of publicly traded securities to a registered charity. Qualified securities include shares, bonds and mutual funds listed on a prescribed stock exchange. What are the advantages of donating securities and what is the smartest strategy for Canadians?

For example, donating $100 dollars in stocks ensures the charity receives the $100 and you will only pay the 25 per cent inclusion rate on capital gains. Versus, if you were to consider cashing that stock, then you would pay 50 per cent inclusion rate on the capital gains.

Where There is a Will, There is a Way - But is giving now more beneficial tax-wise?

While it is wonderful to see charitable gifts at work, receiving tax benefits is important as well. Giving during a lifetime and giving upon death, for example, have different tax implications and benefits. What are key considerations?

How Much? What are some philanthropic etiquette guidelines?

Is 1 per cent of your income a good solution? How much should you be giving? What are some of the considerations, including your income bracket and your personal/family situation?

For example, individuals making in the $100,000 range, tend to give 1-2 per cent of income. For individuals making $1 million and over, they may give between 10-20 per cent.

A Family Affair - How to make your children mini-philanthropists?

Recent report shows that more than four out of five boomers cite charitable giving as a rewarding and educational family experience, but only 15 per cent involve their children in the decision making process. How to include your children in the giving?

BMO's podcast features Tina Di Vito and Marvi Ricker discussing findings from the Institute report, along with examples of how some Canadian families approach charitable giving: http://www4.bmo.com/vgn/images/podcasts/en/?RYW20

SOURCE BMO BANK OF MONTREAL

For further information: For further information: For media inquiries, please contact: Kasia Lech, kasia.lech@bmo.com, (416) 867-3996


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