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There are certain questions that a qualified donee (such as a registered charity) must consider to be able to determine if it received a gift. If the donation is considered a gift, the qualified donee can issue a receipt to the donor. Here are the questions: Was the gift made voluntarily? A gift must be given freely. If it the gift was given because of a contractual or other obligation, then a receipt cannot be issued. Was there a transfer of property? A receipt can only be issued for a gift of property and not for a gift of service. Did...
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Are you a frequent supporter of Canadian charities? If yes, here are some of the most frequently asked questions on giving to charities. • How can you check if a charity is registered? Find out the charity’s registration number and confirm its status in the CRA’s List of Charities: https://www.canada.ca/en/revenue-agency/services/charities-giving/charities-listings.html. You can also call the Charities Directorate at 1-800-267-2384. • Can a charity return a donation? Generally, no. At law, a gift transfers ownership of the money or other gifted property from the donor to the charity. Once transfer is made, the charity is obliged to use the gift in carrying...
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The Forum Poll recently did a random sampling of public opinion among 1281 Canadian voters and it shows that 71% say they are confident that charities will use donations responsibly. Only 7% say they are not confident at all on the use of their donations. This is a good indication of the general attitude of Canadians towards charitable giving. Indeed, Canadians are very giving. But it is also important as donors to be sure that our donations are spent efficiently and are eventually used to change lives. There are many charities that we can choose from. It is a MUST as...
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I have a lot of different perspectives on donating to charity, some you will agree with, some you won’t, but all are equally valid and should be considered when you are making your decision on whether to give to charity or not. I believe that no financial decision should be made based solely on tax consequences. Giving to charity in my opinion is a very, very good thing to do (provided the charity is actually making the world a better place and not just paying executives a lot of money to work there). You even get a really good tax credit...
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