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Tax Credits and Donations

Tax Credits and Donations


Inside Out, a registered Canadian charity, relies on the generosity of Canadians who value and support LGBT artistic expression. Tax credits are one incentive to donate to Canada’s premiere LGBT Film Festival organizer.

The Federal Government has introduced the “First-Time Donor’s Super Credit” tax incentive to encourage giving.

If you’ve haven’t claimed any charitable contributions since 2007 on your income tax, now is the time. You might be eligible for a one-time super credit that can almost doubles your deduction. You qualify as a first-time donor if neither you or your spouse or common law partner claimed the charitable tax credit or first-time donor super credit in any taxation year after 2007. The super credit is applicable to any single cash donation of up to $1000 made by an individual or couple between now and 2017.

Under this time-limited incentive:

Donations up to $200 receive a 40% tax credit.

Donations between $201 and $1000 receive a 54% tax credit.

A donation to Inside Out boosted by the First-Time Donor’s Super Credit means a stronger and more cohesive LGBT community – and more money in your pocket after taxes.

 

Your gift

Total First-Time Donor’s Super Credit

Actual cost to you, after taxes

$150

$68

$82

$250

$123

$127

  $500  

  $286  

  $214  

  $750  

  $448  

  $302  

$1,000  

$611  

$389  

 

For more information, speak with your financial advisor or visit the Canada Revenue Agency website at www.cra-arc.gc.ca.