The cost of giving – getting a big break on your taxes

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.

by Partners in the Horn of Africa

Our mission is to improve the lives of Ethiopians. We listen to their needs and partner with them on projects that empower communities and individuals and contribute to their well being. Follow Partners in The Horn of Africa on Twitter or Facebook.