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Charitable donations are on the rise for a third consecutive year, finds a BMO survey.

Most Canadians say they have made a charitable donation in the past 12 months, giving an average of $624 – up 8% from 2013. Last year, 77% of Canadians reported making a donation, worth an average of $580.

Read: Advisors don’t understand rich donors: BMO survey

The most popular methods for donating among Canadians are:

  • Donations of cash at specific locations (46%)
  • Purchasing of products to be donated (40%)
  • Donations added to point of sale transactions (29%)
  • Online donations via credit cards (24%)

If your client is interested in donating to charity, ensure they maximize the tax benefit of  their generosity. As Advisor’s Jessica Bruno reports,

“Anecdotal evidence suggests as much as two-thirds of the value of donation tax credits in Canada go unused.”

Read more here.

Originally published on Advisor.ca

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