Publisher's Note

Publisher’s Note
Dear readers, The summer is going fast as everyone is having fun especially that we just wrapped up the festivities of the 10 days Calgary Stampede. The weather cooperated in a way where it showered during the parade but it all went well. I’m sure that the organizers of Calgary Stampede were all happy with an [...]
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Albertans encouraged to take advantage of charitable tax credit – one of Canada’s highest

Many donors don’t make the most of their charitable donations.
Edmonton… Albertans are generous to their favourite charities, especially as the year draws to a close. Yet too often they forget to claim their official income tax receipts at tax time honouring their generosity.

“Alberta has one of the highest charitable tax credits in Canada,” said Lindsay Blackett, Minister of Culture and Community Spirit. “But many people just don’t submit their official receipts for the tax credit they’re entitled to. It feels great to give to charity, but it also feels great to lessen your tax burden. And giving just a little more could mean a larger tax credit. It’s a win-win for charities and donors.”

The charitable tax credit is part of the Community Spirit Program, created to help increase private charitable donations by individual Albertans to Alberta’s nonprofit and charitable organizations.

By combining the provincial tax credit of 21 per cent with the federal tax credit of 29 per cent, Albertans receive a 50 per cent non-refundable tax credit for every dollar donated over the $200 annual threshold. This tax credit is not a refund; it is a credit towards an individual’s overall amount owing for income tax. To take advantage of the tax credit, Albertans can claim their total annual charitable donations on their next income tax return.

Example

Total Annual Don	Alberta Tax Credit	Fed. Tax Credit	Total Tax Credit
$500	$83	$117	$200
$1,000	$188	$262	$450

Valued at approximately $80-million, the charitable tax credit is one of two components of the Community Spirit Program. The other is a donation grant, which allows nonprofit and charitable organizations that have received at least a total of $1,000 in eligible cash donations from individual Albertans to apply for a proportional grant.
For more information on the program, visit www.communityspiritprogram.ca or contact the Community Spirit Program office at 780-644-8604 (dial 310-0000 for toll-free access within Alberta).