Personal Taxation Q 'n A

Charitable donations are eligible for credits against taxes up to a maximum of 75% of net income. Amounts not claimed can be carried forward five years. In the year of death the credit available is available up to 100% of income. Charitable donations follow a two step system whereby donations greater than $200 are eligible for an enhanced credit. There are enhanced benefits for donations of cultural properties and ecologically sensitive land. In addition, there are benefits if shares of publicly traded securities are donated directly to a charity. Finally, there are interesting and creative ways to bequest money to a charity through the use of trusts and life insurance products. Please see CRA's information page on charitable donations.