Charitable Tax Credits

As we turn the page to 2021, we think of our friends, families, and neighbours who were impacted by COVID-19; both directly and indirectly. We also take a moment to reflect on many registered charities that have seen drastic decreases in funding, which in turn reduces their resources to carry out their social and humanitarian causes.

We at Evolve put community service as the center of everything we do, and in the interests of these charities and our clients we’d like to issue a gentle reminder that Federal and Provincial Governments financially support donors in the form of charitable tax credits to registered charities. In Alberta, cumulative donations under $200 result in a 25% tax credit and a 50% tax credit in excess of $200 for every dollar being returned to you in the form of a tax credit.

Consider donating on or before December 31 to take advantage of this tax credit on your 2020 personal tax return and provide support to these organizations when they need it most. We are in this together. Evolve Chartered Accountants wishes everyone and their loved ones all the best in 2021.