I was asked a question about my charitable donations post from last week. The question was, instead of the $200 in my example, what if he donated say $1,000 a year… would he be better off getting the credit each year and investing it?
For starters, lets break down the tax credit he would receive, each year [...]
The Canadian Source For Personal Finance
Category Archives: Charity
Investing Your Charitable Donations Credit
Charitable Donations
This is a very simple option to optimize the tax credit you receive on donations you make to registered charities. You do however, need to have a dependable filing system since you’ll be holding on to your receipts for a few years.
The first $200 of charitable donations are eligible for a 15% federal tax credit, any [...]
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