Charitable Tax Deductions
Claiming charitable tax deductions is probably easier than you think!
We will provide a very brief list of foundations you may or may not be familiar with. If you are not sure what charitable organization needs your support, see our suggestion below.
Let's start off with a few popular questions to get the ball rolling.
Can I claim tax deductions for donations for myself and my husband on my return? Yes, either you, your spouse or your common-law spouse can claim donations that were made – up to 75% of the taxpayers net income for the year.
I don't need the tax deductions for donations credit this year, do I have any other options?
Yes, you do have other options. If it is more beneficial for you to carry them forward then claim them on any of the next five years returns.
What do I do with my charitable donation receipts?
Whether you are filing your return electronically or filing a paper return, keep all of your receipts. If Canada Revenue Agency wants to see them they will contact you and ask you to send them in so they can do so.
Registered charities operate for charitable purposes and must apply their resources the charitable activities.
- They have their own individual
registration number from Canada Revenue Agency.
- They don't have to pay tax on their income and they are authorized to issue official donation receipts.
Registered charities are charitable organizations and public or private foundations that are created and set up in Canada. They must be in one or more of the four following categories:
- Poverty relief
- Education advancement
- Religious advancement
- Other purposes that benefit the community in a way the courts have said are charitable
Below is the informative CRA video about researching charities.
Charitable tax deductions are under various headings benefiting various foundations, such as:
- Animals
- Arts and Culture
- Education
- Environment
- International
- Health
- Religious Organizations
- Social Services
If you are looking to donate to a great cause SOS Children's Village is a great cause, they provide homes, a supportive community, and programs to help foster children and youth in need grow into caring, self-reliant adults.
To many, nothing in the world is more important than to care for a child, if you believe this to be true and you also have an extra $5, an extra $10, an extra $20 or an extra $100, please share it with SOS Children's Village today. If you are fortunate enough that you can share $500, $1000 or more to help care for a foster child please click here to donate.
All children are the future, all children deserve a chance, all children need to know they are worthy and need to know they are loved and that someone out there cares. You can help a foster child in British Columbia realize they can have the same opportunities that other children have. Vulnerable children and youth, such as those in foster care, often have amazing talents which need to be encouraged and developed. If you can help with that development please do, you can only imagine the difference you can make. Imagine the difference we could all make in the lives of these children that need and deserve our support.
You have the power to make a difference in the life of a child or in the life of a teenager, right now. You don't have to be rich and you don't have to be persuasive. You just have to want to be a positive influence on the future of our country, it's that simple.
Unfortunately, not all children have the security and respect of a family. This is a wonderful way to show these children there is still hope, there is a better way and there is a future, a great future, for them! They can dream and they can dream big!
This is a very short list of charitable foundations that would appreciate your support:
SOS Children's Village BC
Covenant House
Red Cross
Doctors Without Borders
Operation Smile
Canadian Guide Dogs For The Blind
BC SPCA
Terry Fox Foundation
Canadian Breast Cancer Foundation
Multiple Sclerosis Society of Canada
Canadian Feed The Children
Amnesty International
Canadian National Institute For The Blind
Cystic Fibrosis Canada
Children's Wish Foundation
Kidney Foundation
War Amputations of Canada
Claim the Charitable Tax Deductions you have contributed to by filling out Schedule 9 as well as line 349 of schedule 1 of your income tax return.
Donations and Gifts - Schedule 9
Return from Charitable Tax Deductions to Common Tax Deductions
Return from Charitable Tax Deductions to Tax Deductions
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*File On Time
This Upcoming Tax Season*
File by April 30th and incur no penalties or interest
Most Canadian 2024 income tax and benefit returns will be due on April 30th, 2025, your return will be considered on time if the CRA receives it, or if it is postmarked, on or before the next business day. Again, the CRA will consider your return as filed on time if your submission is filed or if it is postmarked by midnight on Wednesday April 30th, 2025
If your return is not filed on time you risk a delay in the processing of your GST/HST Credit; Canada Child Benefit (CCB) payment; Old Age Security Benefit (OAS) payment, along with any provincial credits you are eligible for.
Deadline to contribute to a RRSP, PRPP, OR SPP is February 28th, 2025
Benefit Payment Dates To Remember
Canada Child Benefit
Last: Dec, 2024
Next:
January 20, 2025
GST/HST Credit and Canada
Workers Benefit
Last: Oct , 2024
Next:
January 3, 2025
*Keep your slips, receipts and supporting documents for six years, in case your return is selected for review. Also, keep a copy of your return, notice of assessment and reassessment.
The Upcoming 2024 Filing Deadline
Individuals
Wednesday April 30th, 2025
Self Employed
Monday June 16th, 2025