Sometimes you don’t need a reason to donate to your party (other than pride and generosity, of course!)

A “just because” donation!

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Donation Total: $1

tax credit calculations

A portion of your donation can be claimed as a tax credit at tax time. Tax credits reduce the amount of income tax you owe dollar-for-dollar.

TAX CREDIT CALCULATIONS

Up to $400: tax credit = 75% of your donation.

From $400 to $750: tax credit = 50% of your donation

From $750  to $1550 (max): tax credit = 33 1/3% of your donation up to $650

The maximum contribution to a registered Canadian political party is $1550 annually. The maximum tax credit is $650.

Tax credits reduce your taxes payable. If you do not owe taxes the credit is lost. It cannot be carried forward. Tax tip: Consider spreading your political contributions over two years to maximize your credits. For example, if you contribute $750 in one year, your federal tax credit will be $475. If instead, you contribute $375 in one year and $375 in the next, your political contribution tax credit will be $281.25 in each of those years, for a total credit of $562.50.

EXAMPLE TAX CREDIT AMOUNTS

$20 Donation = $15 tax credit
$50 Donation = $37.50 tax credit
$100 Donation = $75 tax credit
$250 Donation = $187.50 tax credit
$500 Donation = $350 tax credit
$1000 Donation = $558.33 tax credit
$1275 Donation = $650 tax credit *max
$1550 Donation = $650 tax credit *max

Tax credits reduce your taxes payable. If you do not owe taxes the credit is lost and cannot be carried forward. Tax tip: Consider spreading your political contributions over two years to maximize your credits. For example, if you contribute $750 in one year, your federal tax credit will be $475. If, instead, you contribute $375 one year and $375 the next, your tax credit will be $281.25 in each of those years, for a total contribution tax credit of $562.50

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