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Canada: Charitable donations for tax credit on 2018 return

Canada: Charitable donations for tax credit

Charitable contributions—cash donations or tax-effective gifts of property (“gifts in kind”)—must be made by 31 December 2018 in order for an individual taxpayer to claim the donation on the 2018 tax return.


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Generally, the after-tax cost for a $1,000 cash donation in 2018 can range from a low of $460 to a high of $525 for a “high income earner” with income over $205,842, and from a low of $500 to a high of $565 if the taxpayer’s income is below that amount (depending on the taxpayer’s province of residence). Donating property such as securities, art, real estate or a life insurance policy instead of cash may increase the tax benefits of the donation to the taxpayer and the value of the donation to the charity.


Read an October 2018 report [PDF 210 KB] prepared by the KPMG member firm in Canada

$ = Canadian dollar

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