are donations in canada 100% deductible?

Discussion in 'Legal Issues' started by sllik, Dec 6, 2007.

  1. #1
    If I make a donation, is it 100% deductible?
     
    sllik, Dec 6, 2007 IP
  2. tke71709

    tke71709 Peon

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    #2
    Donation to what? A registered charity?
     
    tke71709, Dec 6, 2007 IP
  3. sllik

    sllik Active Member

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    #3
    yes, to wfo.org
     
    sllik, Dec 6, 2007 IP
  4. lojadeluxo

    lojadeluxo Well-Known Member

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  5. NewTier

    NewTier Notable Member

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    #5
    Yes, it would be. But you need to make sure that the charity is registered.
     
    NewTier, Dec 6, 2007 IP
  6. tke71709

    tke71709 Peon

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    #6
    For one, I don't see that they are a charity, they look like a professional organization to me.

    For two, they are US, so even if they are a charity they most likely aren't registered as such in Canada. See http://www.cra-arc.gc.ca/tax/charities/donors/menu-e.html

    For three, charitable donations are NOT deductible at all, much less at 100%. They provide you with tax CREDITS. See http://www.quicktaxweb.ca/content/etc/tc_charitable.php?b=

    For four, don't expect correct tax advice from a webmaster forum. Call Revenue Canada directly if you want correct answers.
     
    tke71709, Dec 7, 2007 IP
  7. Christian Little

    Christian Little Peon

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    #7
    Why would you donate money to a conference for orthodontists that is only run every five years? Seems kinda silly.

    Put your money into a charity that's actually giving back to society, like the Red Cross.

    But to answer your question, yes it's 100% tax deducatable if they are a registered charity under the Income Tax Act. From looking at their website, I have severe doubts that they meet this requirement.
     
    Christian Little, Dec 7, 2007 IP
  8. tke71709

    tke71709 Peon

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    #8
    Again, charitable donations are not tax deductions, they give you tax credits, and you don't get 100% of a tax credit back.
     
    tke71709, Dec 8, 2007 IP
  9. Christian Little

    Christian Little Peon

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    #9
    I'm not an accountant, but I believe tax deductable is the same thing as tax credits. Either way you lower your taxes with them. I never said you get the tax money back.
     
    Christian Little, Dec 8, 2007 IP
  10. CJJR

    CJJR Peon

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    #10
    To answer the OP original question, for federal tax, donations are not deductible in Canada, they give you a tax credit, and it's not 100%. To give you an idea, if I remember correctly, it's 16% for the first 200$ and 29% for anything over that.

    But tke71709 gave you the best advice:

     
    CJJR, Dec 8, 2007 IP
  11. roseau

    roseau Peon

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    #11
    Tax deductible and tax credit are not even remotely the same. Further, donations are not tax deductible. They are a tax credit and only a percentage thereof.

    Unless you are contributing a very large sum of money, because of the way the credit is calculated, it will hardly make any impression on your taxes.

    So to answer the original question:

    No, donations are not 100% tax deductible.
     
    roseau, Dec 8, 2007 IP