While it's not clear how children feel about this trend,
statistics indicate that Canadians are increasingly donating to
charities on behalf of gift-recipients instead of spending cash on
a traditional gift. Below is an article summarizing a survey
conducted by BMO on Canadian gift-giving:
* * * * * * * * * *
Marketwire - Wednesday, December 19, 2012
REPEAT-The Gift of Giving: BMO Holiday Study Finds Canadians
loving Away from Traditional Giving
- Almost two-thirds would opt for a donation made on their
behalf rather than receiving a holiday gift - More than
three-quarters like the idea of making a charitable donation on
someone else's behalf instead of giving a present - Almost half
of Canadians volunteered in 2012
TORONTO, ONTARIO, Dec 19, 2012 (MARKETWIRE via COMTEX) -- This
holiday season, many Canadians are opting for charitable giving
rather than handing over a traditional gift-wrapped present to
family, friends and colleagues.
According to a study issued today by BMO Harris Private Banking,
almost two-thirds of Canadians (62 per cent) say they would prefer
having someone make a donation on their behalf instead of receiving
The study, which examined donating and volunteering in Canada,
revealed that a growing number of Canadians are open to changing
the concept of holiday gift-giving. Other key findings include:
More than three-quarters (78 per cent) say they would consider
making a charitable donation on someone else's behalf
instead of giving a tangible gift.
Almost half (45 per cent) volunteered over the past year.
"It says a lot that many Canadians are moving away from the
traditional idea of gift-giving and becoming more creative about
what and how they give," said Marvi Ricker, Vice President and
Managing Director, Philanthropic Services, BMO Harris Private
Banking. "Many of us are fortunate and have everything we
need, yet during the holiday season we put together our wish lists.
Donating to a charity, on the other hand, is a win-win situation
because both the giver and the receiver benefit by knowing
they're playing a role in contributing to a worthwhile
"It's also important to keep in mind that giving back
to your community doesn't only have to be about money,"
added Ms. Ricker. "Volunteering during the holidays and
throughout the year is a great alternative to tangible presents,
especially if you have a tight budget. It also teaches children and
teenagers valuable life lessons about responsibility."
BMO Harris Private Banking offers the following tips to keep in
mind when giving to others this holiday season:
Consider the Recipient's Interests: Do you know what issues
matter to the person on whose behalf you're making the
donation? Does he/she volunteer with a particular organization?
Aligning your donation with the recipient's interests will make
your charitable gift that much more meaningful and appreciated.
Beware of Fraudulent Charities: If you are solicited for a
donation by phone, ask for the charity's registered name,
address and telephone number and offer to make a donation online.
Then verify with the Canada Revenue Agency that the organization is
a registered charity or is affiliated with one. If everything
checks out, write a cheque and address it to the charity rather
than the soliciting individual.
Obtain a Tax Receipt: Always ask for proof that your
contribution has been submitted. Not only will this benefit you at
tax time, but an official receipt also ensures the charity is
properly registered. Consider having the tax receipt sent to the
person on whose behalf you are donating, as they will get both the
honour and the tax benefit.
Volunteer Your Time: If you have a few hours or days to spare,
take the opportunity to volunteer during the holiday season to help
people in need.
Get the latest BMO press releases via Twitter by following
The surveys conducted by Pollara were completed between November
2 and November 9, 2012 and between December 6 and December 10,
2012, each with a sample of 1,000 Canadians 18 years of age and
older. Probability samples of this size would yield results
accurate to +/- 3.1%, 19 times out of 20.
Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).