Looking for that Perfect Gift? Don't Tax Yourself!

November 2010
CMAJ: Canadian Medical Association Journal;Nov2010 Best Practice Supplement, p3
Academic Journal
The article offers information on how to reduce tax liability in 2010. It states that a person can receive a non-refundable provincial and federal tax credits after making charitable gifts. It says that making donations can reduce the net tax liability of an individual, and that it can also provide a meaningful donation. Furthermore, it relates that total donations for a year is equal to 75% of taxpayer's net income, and that unused donations can be carried forward up to five years.


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