Shave for the Brave News
How does donating to us help you?
Posted on Jan 04, 2011
We all know about charitable tax deductions, but do we really know what's in it for the donor?
This video from the Canada Revenue Agency talks about the details of claiming your deductions and we think it's important info everyone should know.
The highlights:
- On the federal level, you can receive 15 per cent of the first $200 you donate and 29 per cent of anything over $200.
- You can combine your receipts with those of your spouse.
- You can claim your receipts for up to five years after you donate which means you could receive a higher return on more money.
Have a look at their other videos to see if you can learn more cool new stuff!
Of course, we're in a new tax year so any donations made to the 2011 Shave for the Brave won't be eligible for filing until 2012. However, it's good to know in case you wanted to pair up your receipts with those from last year for an even bigger return.
Please consult your accountant to determine the best course of action for your individual situation.
