www.charitylaw.ca
www.carters.ca
1.Temporary
One Time Donation Tax Credit for “First-Time Donors”
•This new tax credit, implemented
through Bill C-60, is designed to encourage donors who have
not donated within the last five years to give to charity and
is only available where neither a donor nor his or her
spouse or common-law partner has claimed a charitable
donation tax credit in the five previous tax years
•When applicable,
there is to be an additional one time 25% tax credit for
“first-time” donations of up to $1,000 of a gift, provided that the
gift is made in cash
•Therefore, for
a gift of $1,000, an additional tax credit of $250 is available
•However, the
FDSC can only be claimed once between 2013
and 2017 tax years
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