A Season for Giving and Tax Planning
It’s that time of the year again for gift giving and time with family – this year when you’re picking out those last minute gifts, don’t forget to consider making a gift to your favorite charity.
Not only can charitable giving help put you in the Christmas spirit by feeling good about making a difference in your community, but it can help you financially when it comes to tax time.
December 31 is the last day to make a charitable donation for the 2012 tax year. We are so lucky here in Alberta – we actually have the highest tax credit rate compared to all other provinces.
What exactly does that mean?
Let’s say for example, you make a donation of $500 to your favorite charity. At tax time, you will get a tax credit for up to 50%* of your gift. That means you now owe $250 less on your taxes! You can watch your money make a difference in a way that is important to you, rather than putting it to taxes.
Some important things to know about your year-end donation:
• If you are mailing in your donation, the registered charity will require your envelope to be
• You can make a difference now and save your tax credit for a later date!
If your preferred charity this holiday season is health care, click here to make a donation now!
*Gifts totaling under $200 are credited at 28% and once you reach the $200 giving threshold your credit rate is 50%.
Stettler Hospital & Care Centre, Bag 500, Stettler, Alberta T0C 2L0