Your donation of cash, securities, and other assets are eligible for charitable tax credits, which can reduce the federal and provincial income tax you pay each year.
Below are some examples of particular donation amounts*. All gifts to charities over the initial $200 entitle you to a tax credit of 50% (29% federal tax credit plus 21% Alberta provincial tax credit).
($10,000 - $24,999)
($25,000 - $49,999)
($50,000 - $99,999)
|Alberta Tax Credit||$2,078||$5,228||$10,478|
|Federal Tax Credit||$2,872||$7,222||$14,472|
|Cost After Tax||$5,050||$12,550||$25,050|
*These examples are based on an annual taxable income of less than $202,800, and the provincial and federal tax credit rates ruling as of January 1, 2018. If your annual taxable income is more than $202,800, you may be eligible for further tax credits. Please visit the Canada Revenue Agency website or consult a financial advisor to learn more.