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Discover the impact a charitable donation can have on your taxes. This calculator determines how much you could save based on your donation and place of residence. Enter the donation amount in the box below and press the Calculate button
By donating to your favourite charity, you may receive as much as 49% of the amount you donated back at tax time. That could mean a $494 tax credit on a total of $1000 donated in a single year in some provinces. Reduce Capital Gains Taxes.
This calculator lets you estimate the amount of tax credit available for eligible donations claimed on an income tax and benefit return for a tax year, by province or territory of residence. It does not take into account all possible tax situations.
15 gru 2022 · Charitable donations over $200 will typically bring provincial tax credits between 11.16% (Ontario) and 24% (Quebec). Be aware that in Quebec the federal tax savings are generally reduced by the federal tax abatement.
Use the Charitable Donation Calculator to estimate the combined federal and provincial after-tax cost of your charitable donation.
Due to the Ontario surtaxes, the effective tax rate for donations over $200 is 13.39% for taxable incomes over $86,698, and 17.41% for taxable incomes over $102,135. (3) AB's highest income tax rate is 15%, but it sets a rate of 21% for donations over $200.
17 mar 2021 · Step 1: Decide how much you want to claim. You can also claim donations made by your spouse or common-law partner. In one tax year, you can claim: donations you made between January 1 and December 31 of that year. any unclaimed donations you made in the last five years.
