How Tax Credits Work
Your donation to United Way of Calgary and Area is eligible for valuable charitable tax credits.
For an annual taxable income of less than $200,000:
- The first $200 of all your charitable giving entitles you to a tax credit of 25% (10% provincial tax credit and 15% federal tax credit).
- You are entitled to a tax credit of 50% for all charitable gifts exceeding the initial $200 (21% provincial tax credit and 29% federal tax credit).
If your annual taxable income is more than $200,000 you may be eligible for further tax credits. Please contact a financial advisor for more information.
The Chart below demonstrates the tax credits at various giving levels*:
First-Time Donor's Super Credit (FDSC)
The Government of Canada offers a tax incentive of an additional 25% in tax credits on donations of up to $1,000 for first time donors and donors who haven’t claimed a donation since 2007. You can learn more information about this incentive at www.cra-arc.gc.ca
The following diagram demonstrates the FDSC when you donate $1,000 as a first time donor*:
*These examples are based on an annual taxable income of less than $200,000 and the provincial and federal tax credit rates ruling as of January 1st, 2016. Please consult a financial advisor to learn more.
Planned Gifts can have important implications for your long-term tax, financial, and estate plans. Tax credits claimed on end of life gifts – such as a bequest in your will or naming United Way as a beneficiary of your life insurance policy – can be up to 100% of net income on your final tax return. United Way regularly offers free educational estate planning seminars for donors; ask your relationship manager for information about upcoming seminars. You can also learn more about how a planned gift to United Way can help you maximize personal tax benefits from your financial advisor.