The new First-Time Donor’s Super Credit is designed to encourage first-time charitable donors through an enhanced tax incentive. The standard tax credit for a donation is 15 per cent of the first $200 and 29 per cent for amounts beyond that level.
The super credit, which is available until 2017, would add an extra 25-per-cent tax credit for cash donations up to a maximum of $1,000.
The new credit would give first-time charitable donors a 40-per-cent credit for the first $200 or less and a 54 per cent credit for amounts between $200 and $1,000. Scroll down see the infographic and learn more about the First-Time Donor’s Super Credit
First-Time Donor’s Super Credit Calculator
This calculator compares the regular tax credit to the First-time Donor’s Super Credit announced in the 2013 Canadian Federal Budget.
Click here to open the calculator.