Shaelene’s Tax Tip of the Week – July 14th

Are you interested in an upcoming election?

Remember: you can get tax credits for making donations to your preferred party and candidate. These credits include: 75% of your first $300, 50% of anything between $401 and $750, and 33.33% of the amount between $751 and $1,275.

So, if you donate the full $1275, you’ll receive a tax credit of $650.

Note: As of January 1st, 2017, this tip no longer applies to corporations. Corporations do however have up to 20 years to claim all unused contributions

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