The first time donor’s super credit allows for an additional 25% donation tax credit, on top of the traditional federal rates.
The maximum donation that qualifies for the super credit is $1,000. Donations of more than $1,000 will be eligible for the super credit on the first $1,000, and the standard federal credits on subsequent amounts.
To be considered a first time donor, you must not have claimed the charitable donations tax credit for any year after 2007.
Posted in Tax Tips for 2016 Tax Year
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