Supporting Documents for a Charitable Donation
When you make a charitable donation, one of the key benefits you receive is the donation tax credit on your tax return.
In order to be able to claim a charitable donation and get a credit, Canada Revenue Agency (CRA) requires that individuals keep supporting documents and proof of payment (i.e. cancelled cheques, pledge forms, credit card slips, stubs and bank statements). These must be kept for five years in case your donation claim is chosen for review.
CRA requires that individuals keep supporting documents and proof of payment for 5 years
Official charitable donation receipts are provided by registered charities and require the following information on them:
- Must state on the receipt that it is an official receipt for income tax purpose.
- Name and address of the charity.
- A unique serial number (i.e. receipt number).
- The charity’s registration number issued by CRA (for example, 12345 6789 RR0001).
- Place where the receipt was issued.
- Date the gift was received.
- Date the receipt was issued.
- Full name and address of donor.
- Amount of the donation.
- Signature of an individual authorized by the charity to acknowledge gifts.
- The name and website address of CRA.
Non-cash gifts must also include:
- Brief description of the gift received
- Name and address of the appraiser
If you want to ensure that the charity you are donating to is registered with CRA, follow the link below.
If you would like more information or have any questions, feel free to contact us at 780.466.6204, or click here to send us an email.
Thanks to Johnny Kwong of KWB Chartered Accountants for providing this content.
Johnny Kwong, CPA
Johnny received his Bachelor of Commerce Degree in 2011 from Athabasca University. In April of 2013, he joined the KWB team, initiated his articling hours, and began pursuing a CPA designation. Despite each CPA PEP module becoming increasingly arduous, there was a light at the end of the tunnel. In May of 2016, Johnny was successful in writing the Common Final Exam. Six months later, in December 2016, Johnny was admitted as a CPA member. He is currently continuing his professional development as a Senior Staff Accountant at KWB.
On a personal note, Johnny became a father in January 2016 to a beautiful baby girl. He and his wife are enjoying every new experience that comes with becoming a parent, especially the monumental steps that their little girl is taking to becoming a unique individual…oh, and the lack of sleep. Johnny also enjoys watching movies, going for long walks and attempting to find a spare moment for a date night with his wife – which have been few and far between, despite KWB’s best efforts.