First time donor super credit is GONE!

First time donor super credit is GONE!

CRA Pro tax tip-

The CRA’s first time donor super credit is no longer offered to people filing their taxes.

If you were waiting for a good donation year to take advantage of the CRA’s first time donor credit you will be out of luck. A recent article on the CRA’s website has noted the cancellation of this credit boosting program.  The program, that offered a 25% credit increase on your donation of up to a max of $1000 made between March 20, 2013 and the end of 2017. The credit was transferable between spouses, but was still limited to the $1000 donation maximum.

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Disclaimer: This article provides information only and is not intended to confer tax advice or opinion. If you have any further questions please consult an accountant or tax specialist. Please note as well that many of the statements herein are general principles which may vary on a case by case basis.