Ontario political contributions tax credit

Important notice

Effective January 1, 2017, this credit is eliminated for corporations. They have up to 20 years to claim their unused contributions.

You can claim a tax credit on contributions made to Ontario registered parties, registered constituency associations, or registered candidates as defined under the Ontario Election Finances Act.

Generally, this non-refundable credit is calculated by multiplying the basic tax rate by the amount of Ontario political contributions, up to an annual maximum indexed according to the Election Finances Act.

The credit is effective for tax years ending after December 31, 2008. It replaces the previous deduction for political contributions administered by the province.

You can carry forward unused contributions, including those from pre-2009 tax years, for up to 20 years. There are no carry-back provisions.

Claiming the credit

File a completed Schedule 525, Ontario Political Contributions Tax Credit, with the return.

For more information on the credit, see the schedule and section 53.2 of the Taxation Act, 2007 (Ontario).

On line 415 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of the credit you are claiming.

Receipts – You do not have to file official receipts with your return. However, keep them in case we ask for them later. We can only accept photocopies if the issuer certifies them as true copies.

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