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 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.
Johnny's Contact Information
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