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.
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 2013, he joined the KWB team and began pursuing his CPA designation. He was officially admitted as a CPA member in December 2016 and continued working as a Senior Staff Accountant at KWB. In February 2019, Johnny was promoted to the role of Manager at KWB, and now continues to expand his knowledge and experience in a variety of areas.
In his personal life, Johnny is a proud father to two beautiful girls, who regularly surprise him with their own achievements. He and his wife are continuing to enjoy all the experiences of their parenting journey…except for the still persisting lack of sleep. In his minimal spare time, Johnny enjoys watching movies, going for long walks, and still attempts to find time to sneak in a date night here and there.
Johnny's Contact Information
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