Giving is sometimes cheaper than you think. Federal and provincial tax credits give a significant portion of your charitable donation back to you, while Partners benefits from the full value of the donation. For donors who have already contributed $200 to Partners or another charitable cause this year, the actual cost of a donation to Partners is:
And, from 2013-2017, first-time charitable donors get an additional 25% credit on donations up to $1,000 under the new “super credit.” For more information on the First-Time Donor’s Credit, see http://www.cra-arc.gc.ca/gncy/bdgt/2013/qa01-eng.html.
If your province is not listed above, use the CRA’s online charitable donation tax credit calculator to see the total value of credits on your donation (see http://www.cra-arc.gc.ca/chrts-gvng/dnrs/svngs/clmng1b2-eng.html)
If you donate securities, you do not pay capital gains tax and you receive a tax receipt for the market value of the securities. (We sell all donated securities immediately upon receipt.) For more information on tax incentives of donating securities, see http://www.cra-arc.gc.ca/chrts-gvng/dnrs/rcpts/dntn7-eng.html#q6, or talk to your tax accountant.
See www.cra-arc.gc.ca or your tax accountant for more information.