Alberta’s charitable tax credit supports giving

Today Jason Loewer, Executive Director of EmployAbilities was at a press conferences where Culture and Tourism Minister David Eggen joined representatives from various charitable organizations, including a number of Santa’s helpers, to highlight the great work they do and the benefits charities and their donors receive through the Charitable Donations Tax Credit.

“Albertans are extremely generous, with donation levels that consistently exceed the national average. In tough economic times, taking care of each other is the Alberta way of doing things. This tax credit encourages Albertans to support the causes that matter to them. The credit is one of the most substantial of its kind in Canada,” said David Eggen.

Contributions to charitable organizations peak during the holiday season, but Albertans can benefit from the tax credit on donations made any time of year. Albertans simply claim their annual donations to registered charities on their income tax returns, and the credit is applied to the overall amount owing or being refunded.

The government’s offering of this tax credit will help support charities across Alberta during the holidays and year round.  This allows donors of EmployAbilities to benefit.

Facts about the Charitable Tax Credit

• Budget 2015 maintains Alberta’s Charitable Donations Tax Credit at 21 per cent for total donations in excess of $200, one of the highest such credits in Canada.
• When combined with the federal charitable tax credit of 29 per cent, Albertans receive a 50 per cent non-refundable tax credit for every dollar donated over the $200 threshold.
• The first $200 in donations receives a combined credit of 35 per cent.
• The tax credit reduces a taxpayer’s amount owing or increases the amount being refunded.
• Albertans gave approximately $1.47 billion to charities in 2013. Of the provinces, Alberta tax filers had the highest median charitable donation in the country. (Source: Statistics Canada).