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Eighty percent of Canadians plan to make a charitable donation in the next 12 months, averaging an annual total of $694, according to a BMO report.

Read: Tax-efficient gifts: sharing donation credits at death

The report, based on a poll conducted by Pollara, found that while the number of people planning to donate is down 10 percentage points from last year, it is in line with the four year average of 81%.

Annual donations — regional breakdown:

Overall Atlantic Quebec Ontario Prairies Alberta BC
2015 $694.11 $640.48 $275.49 $622.60 $948.44 $981.93 $1,235.61
2014 $719.79 $836.50 $239.47 $861.91 $1108.77 $1087.79 $593.11

The report also revealed that 69% plan to donate during the holiday season this year, compared to 75% last year. The average holiday contribution is expected to be $167.

Holiday donations — regional breakdown:

Overall Atlantic Quebec Ontario Prairies Alberta BC
2015 $167.06 $138.33 $87.60 $149.94 $188.22 $300.52 $245.81
2014 $236.30 $131.68 $65.78 $363.20 $258.55 $200.16 $220.49

Despite the overall decrease, more than half (54%) said they plan to donate about the same amount to charities this holiday season as last year, and 13% plan to donate more.

Also read:

A new formula for tax-efficient philanthropy

Tax benefits of new donation rules

Originally published on Advisor.ca
See all commentsRecent Comments

AMI.MAISHLISH

The poll’s observations are likely quite reflective of fact. We need to consider the real and psychological impact of the planned Liberal tax hikes for next year. If the money has to be budgeted to pay Trudeau the same funds cannot also be earmarked for donations.

Bite by bite, regretfully, we will see the pincer actions of the Ontario and Federal Liberal governments chomping away at our freedoms, including the freedom to individually earmark our earnings.

Thursday, November 12 @ 6:17 pm //////

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