05 Dec 2015

During this time of year, many Calgarians are looking to give even though the economy may not be at its best shape. It’s important to know about the tax benefits that you can receive and how to make the most out of it.

When is the best time to get the most out of the tax benefits?

In order to qualify for the 2015 tax deduction, the donation must be received to the organization by Dec 31st, 2015 even if the receipt is not issue, as long as they receive the donation.

Charitable Donation Credits

$100 Donation can receive:

– 15% Federal Credit
– 11% Provincial Credit
– Total Tax Credit of $26

$200+ Donation can receive:

– 29% Federal Credit
– 21% Provincial Credit

Maximum Donation Amount:

– 75% of your net income
– If you pass away, your family can claim 100% in that year and the prior year

Gifts in Kind

– You don’t have to donation just cash, you can donate gifts and still receive credit.
– Rare books, coins, art work, stamps, even land and buildings are eligible to be donated
– A appraisal must be done to determine the value from the charity
– There may be differences in some charities. Contact the charity to see if this option is available.

Hampers and Backpacks

– There are some cases where the charity will give you a charitable donation receipt if you have the receipt of items that you purchased in order to donate.
– Charities like Habitat for Humanity has building services or building goods and if you donate that, they can give you a charitable donation for that. Or if you have experienced services in one place such as plumbing and you do installation work for them, you can get a charitable donation as well.
– Contact each charity before anything!

Common Misconceptions

There are some items and donations that may seem like charitable dollars but isn’t deductible:

– Lottery raffle tickets with the home draws (they are not deductible because you are getting a potential benefit)


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Happy donations!