How Tax Credits Work
Your charitable donation to Boys & Girls Clubs of Calgary can get you meaningful tax credits on your next return.
For an annual taxable income of less than $200,000*:
- The first $200 of all your charitable giving entitles you to a tax credit of 25% (10% provincial tax credit and 15% federal tax credit).
- You are entitled to a tax credit of 50% for all charitable gifts exceeding the initial $200 (21% provincial tax credit and 29% federal tax credit).
If your annual taxable income is more than $200,000 you may be eligible for further tax credits. Please contact a financial advisor for more information.
The below table shows the true cost of donating at various levels:
|Alberta Tax Credit||$12||$104||$230||$1,028||$2,078||$5,228|
|Federal Tax Credit||$18||$146||$320||$1,422||$2,872||$7,222|
|Cost After Tax||$90||$350||$650||$2,550||$5,050||$12,550|
First-Time Donor’s Super Credit (FDSC)
Starting in the 2013 taxation year, the budget proposes to introduce a temporary non-refundable FDSC that will supplement the CDTC for individuals. This new credit effectively adds 25% to the rates used in the calculation of the CDTC for up to $1,000 of monetary donations. As a result, a first-time donor will be allowed a 40% federal credit for donations of $200 or less, and a 54% federal credit for the portion of donations over $200 but not exceeding $1,000.**
Please be advised that donations of $20 or more are tax receiptable, and gift in kind donations that include a receipt or proof of purchase or cost are tax receiptable.
If at any time you wish to be added to or removed from our donor contact list, or have any inquiries regarding the donation process, please contact: 403-276-9981
All personal cheques or money orders can be mailed to:
Boys & Girls Clubs of Calgary
731 13th Avenue NE
Calgary AB T2E 1C8
Charitable Registration # 10680 4669 RR0001
* 2016 taxation guidelines
* This information is general in nature and does not constitute legal or financial advice. It is not a substitute for professional advice; Boys & Girls Clubs of Calgary encourages you to seek professional legal, estate planning and/or financial advice before deciding upon your course of action.
** Some restrictions apply.