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The Charitable Tax Credit

The More You Give, the More You Get
The Charitable Tax Credit

Charitable Tax Credit

The beauty of charitable donation is the unconditional generosity of the donor, but there’s no reason you shouldn’t be rewarded for your selflessness.
The Charitable Tax Credit has been put in place expressly for that purpose! Just like other forms of tax credit, the Charitable Tax Credit means that a percentage of the total amount you have donated to registered charities can be deducted from your total taxes payable to the government.

This means a biggetax refund each year that you can use to treat yourself! At Blackthorn Bookkeeping, we are committed to compiling all of your donation records for your Charitable Tax Credit and providing you with maximum savings.

Limitless Possibilities

The charities to which you donate are almost certainly certified to contribute to your Charitable Tax Credit. You will be shocked at the number of organizations that qualify!
Wondering whether your voluntary donation is tax deductible? The answer is yes if the charity:
 charitable tax credit
  • Is a registered charity in Canada, included in the CRA Charity Listings
  • Has an official registration number
  • Has provided you with an official donation receipt
What kinds of gifts are considered charitable donations for the Charitable Tax Credit?
  • Money
  • Securities (such as stocks)
  • Land, especially land that is ecologically sensitive
  • Cultural or personal-use property (such as art or rare books)
What Are the Benefits of the Charitable Tax Credit?

Just as there are few limits set on applicable charities for your Charitable Tax Credit, appropriate donations and potential refunds are similarly unrestricted. After all, giving to charity is an act that warrants only positive results!
You can claim up to 75% of your income for your Charitable Tax Credit. In Ontario, about 5% of your charitable donations, if they total under $200, goes toward reducing your taxable income and building a refund. For donation totals over $200, the rate is more than double! In either case, this amount is added to the Charitable Tax Credits at the federal level, making for an amazingly beneficial option in your tax return process.


Your Next Steps in Attaining Your Charitable Tax Credit

Getting your Charitable Tax Credit is quick and easy. Just bring all your donation receipts to Blackthorn Bookkeeping and we can take it from there! Our knowledgeable staff is fully prepared to process your Charitable Tax Credits along with your tax return.
Just found out about the Charitable Tax Credit? Now is as good a time as any to come in, as donation receipts can be claimed for donations made up to five years previous.
We specialize in processing Charitable Tax Credits and all other forms of tax credit efficiently and with the best possible result for you. With years of experience on our side, Blackthorn Bookkeeping will provide you with the appreciation you deserve from your charitable donations, with the Charitable Tax Credit. 

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