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Donations and Taxes

By 27 December 2017Community

Things to know about charitable giving

Thinking of making a donation this holiday season? Did you know that all donations made to Inn from the Cold over $10 are eligible for a tax receipt and are tax-deductible?

If you donate before the end of the year you will receive a tax credit for the 2017 tax season.

Things to know about taxes and tax credits:

  • You are eligible for tax credits for donations up to 75 percent of your net income for the year.
  • Donations are eligible for both provincial and federal tax credits.
  • If you donate $200 or more, you qualify for a higher rate. This means that you are eligible to receive a Charitable Donations Tax Credit (CDTC) from the federal government worth 15 percent on the first $200 donated, plus a tax credit worth 29 percent on any amount above $200.
  • In Alberta, if you donate $200 you qualify to receive at 10 percent tax credit, plus an extra credit of 21 percent for donations over $200.
  • First time donors can receive the First-Time Donor Super Credit (FDSC), supplementing the value of CDTC by 25 percent.

You have until December 31 to donate and April 30 to file your taxes. Learn more about charitable giving here.

Here are the ways you can support:

Our Resource Development team ensures donations are handled with a high degree of ethical standards and donors will receive their Canada Revenue Agency Charitable Receipt in a timely manner. Inn from the Cold is a Charity Intelligence Four-Star Rated charity and ensures every dollar donated goes to benefiting our guests, with only 16 percent of your cash donation going to administrative costs. We are transparent on exactly how contributions are used, if you are curious on how or ways in which your donation will be used, please ask our Donations Associate when you are donating.

30 percent of our annual general revenue comes from government funding, while 70 percent is due to the generosity of individuals, foundations and corporations. We could not do what we do on a daily basis without the giving spirit of Calgarians. Together, with your support, we can end homelessness for children and their families.

Thank you and happy giving!

“Giving is not just about making a donation, it’s about making a difference” – Kathy Calvin