In Canada, governments encourage everyone to give by providing important tax benefits in the form of tax credits.
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At the federal level, tax credits for charitable contributions are:

  • 15% for gifts of $200 or less
  • 29% for the portion of a gift exceeding $200

 

For Quebec residents, because of the impact of the tax abatement, these credits become:

  • 12,525% for gifts of $200 or less
  • 24,26% for the portion of a gift exceeding $200

 

At the provincial level, tax credits for charitable contributions are:

  • 20% for gifts of $200 or less
  • 24% for the portion of a gift exceeding $200

 

The maximum amount admissible for tax credits is 75% of the giver’s net income for the year the gift is made in. Any gift over the 75% maximum can be carried forward and claimed over the next five years. An act of great generosity! An interesting tax benefit.