Advisor.ca | Budget boosts charitable tax credits
The industry has had almost a week to digest Budget 2013, which tightened various tax credits.
And when it comes to charitable contributions, the Budget proposed some positive changes.
Industry experts are applauding the new temporary First-Time Donor’s Super Credit (FDSC). If clients haven’t donated since 2007, the FDSC offers an additional 25% tax credit on top of the federal and provincial rates. It applies to any amount up to $1,000. This will last until 2017.