News Releases

TORONTO, ONTARIO--(Marketwire - June 7, 2012) - As part of BMO Financial Group's ongoing commitment to financial literacy and 'Making Money Make Sense' for Canadians, BMO is releasing a financial tip every week in 2012.

BMO's Financial Tip of the Week: Give the gift of securities and benefit from tax savings.

The advantages of donating securities are two-fold:

1. You receive a tax receipt for the fair market value of the donation in the amount of the closing trading price on the day, and the charity of choice receives the security.
2. Your donation is exempt from the capital gains tax that typically applies to the sale of a security.

"This is a fast, simple and convenient way to make a difference and support a cause that you believe in," said Marvi Ricker, Vice President & Managing Director of Philanthropic Services, BMO Harris Private Banking. "As many Canadians look to participate in charitable giving, several organizations, such as United Way and other local community foundations, have made this alternative giving option available to investors looking to support great causes.

Giving back and supporting great causes can also be done through volunteering. Today, approximately 6,500 BMO employees in communities across Canada and the U.S. will roll up their sleeves and participate in 400 projects for the first North America-wide BMO Volunteer Day. To learn more, please click here.