Charitable Giving Tax Credit Calculator
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.
The above results are based on tax rates effective July 1, 2023.
Results do not include the additional 4% federal tax credit for donations over $200 to the extent taxable income is subject to the highest federal income tax rate.
In addition, the results do not include the additional 3.7% (BC) and 1.75% (Quebec) tax credit for donations over $200 to the extent taxable income is subject to the highest tax rate in these provinces respectively.
There may be additional tax savings for individuals residing in Ontario and PEI due to reduction in surtaxes. These additional savings are not reflected in the results above.
The information contained herein is intended for illustration purposes only. While care is taken in the preparation of this document, no warranty is made as to the accuracy or applicability in any particular case.
The information provided is general in nature and is intended to highlight various tax planning issues. This information should not be relied upon or construed as legal or tax advice. Readers should consult with their advisors, lawyer and tax professionals for advice before employing any of these strategies.