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Ahead of the holiday season officially coming to a close, there’s one more thing you should definitely do before ringing in 2016!
Make your donation to the Canadian Red Cross by midnight EST on December 31 to receive your charitable tax credit for 2015.
That means you only have a few days left to make a donation that will maximize your 2015 tax credit while helping to improve the lives of others in your community and around the world.
Two special tax credits for Canadian donors
You might not be aware of Canada’s two special tax credits for charitable donations. One is the $200 Rule, which gives you the highest tax credit possible when you donate more than $200.
And the other is the Super Credit for first-time donors, which refunds 25% of your total donation*
How does that add up? It means that with both tax credits in place, a $300 donation costs as little as $102. So for just over $100, you’ll be able to provide $300 worth of Canadian Red Cross programs and services to Canadians in need.
But you can only maximize your 2015 tax credits by donating before January 1, 2016.
By making your donation a year-end gift, you will also help the Canadian Red Cross prepare for 2016 with the resources required to help anyone who needs it, anywhere it is needed.
P.S. You can only take advantage of these 2015 tax credits by donating before midnight EST, December 31. Act now, before it's too late!
* First-time super credit applies to donations up to $1,000. Tax rates vary by province, $102 amount calculated using Quebec tax rates.
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