Scotia McLeod is offering their spring commission-free week March 3–6, 2025. During this time, they will sell gifts under $10,000 CAD or $10,000 USD without charging a commission. (The normal commission is $140 for gifts under $6,000; $175 for gifts between $6,001 and $9,999).
Please note: Multiple partial sales of the same stock, together worth more than $10,000, are not eligible. Donors wanting to give greater than $10,000, can donate multiple stocks, providing the total value of same stock is under $10,000.
To take advantage of this commission-free offer, the securities must be in the PCC account by the end of the day on Thursday March 6, 2025. Securities donated prior to March 6 will be sold during the commission-free week with the donor’s written instructions. The receipt will still reflect the market value of the stock on the day the securities were deposited into the PCC account, and the beneficiary will receive the proceeds (plus/minus any gain/loss) of the stock sale.
NOTE: Scotiabank offers these commission-free weeks quarterly (usually the beginning of March, June, September and December). Unfortunately, we never have the exact dates until right before the week begins. Donors wanting to participate in these weeks can donate the securities close to those time periods and we can hold them for sale until the commission-free week. However, it requires balancing the cost of the broker fee verses the risk of the change in value of the stock.
To donate for commission-free weeks, please mark “Commission Free Week” on the donation form and email us a copy of your completed donation form to ensure proper allocation of the gift and the issuing of the tax receipt.
Please feel free to contact Maggie mleung@presbyterian.ca if there are any questions. She is happy to help you navigate the paperwork.
416-441-1111 or 1-800-619-7301 ext. 239