In 2013, the Federal budget added an additional charitable donation tax credit for first-time donors. The First-Time Donor's Super Credit (FDSC) provides an additional 25% credit on donations up to $1000.
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You are considered a first-time donor if you have not claimed the Charitable Donation Tax Credit (CDTC) in the past five tax years.
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The maximum amount you and spouse/common-law partner can claim is $1000 combined.
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You may claim the FDSC once during the period between 2013 and 2017 tax years.
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You may only claim the FDSC on money donations.
Example: If you were to donate $500, you would receive the following tax credit:
|
Credit |
Amount claimed |
Credit % |
Tax Credit |
|
CDTC |
$ 200 |
15 % |
$ 30 |
|
CDTC |
$ 300 |
29 % |
$ 87 |
|
FDSC |
$ 500 |
25 % |
$ 125 |
TOTAL
|
$ 242
|
You can find more information at Revenue Canada.