Tuesday, April 08, 2014

'Super credit' could super charge charities

'Super credit' could super charge charities: Like other Canadian charities, the British Columbia SPCA is hoping that more people will take advantage of a new tax credit for first-time donors and be inspired to keep giving year after year.

Called the first-time donor's super credit by the federal government, the tax credit is aimed at getting new donors to give to charities by increasing the value of the federal charitable donations tax credit by 25 per cent. The credit can be applied to cash donations of up to $1,000, and can be claimed only once in any taxation year from 2013 to 2017.

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