Did you know...
... that any charitable donation you make to a registered charity before the end of December can be put towards your income tax return for 2011. Or you can combine this year's donation with any unclaimed official donation receipts from the past five previous years.
Important Facts
- The charitable donation tax credit is non-refundable and can be used to reduce your income tax for a tax year.
- Only registered charities and other qualified donees can issue receipts that can be used for income tax purposes. Confirm that an organization is registered by searching the CRA Charities Listings.
- Remember, whether you file on paper or online, keep your receipts and proof of payment in case you are contacted by the Canada Revenue Agency (CRA).
- In most cases, the total of your claimed charitable donations cannot be more than 75% of your net income in any one year.
- Total donation amounts above $200 qualify for a higher tax credit rate. You can maximize your tax credits by:
- § including unclaimed donations from the past five years; and
- § combining your receipts with those of your spouse or common-law partner.
Learn more
To find out how much a donation could benefit you this tax season, try out the CRA's new charitable donation tax credit calculator, or go to www.cra.gc.ca/donors, call 1‑800‑267‑2384, or watch the Giving to Registered Charities 101 videocasts on the CRA YouTube channel.
