We have donated over $5000 dollars and just got a very small credit. why is that?

[warrencheswick · Accepted solution]

$5000 in donations would be $1422 federal tax credit, and more for provincial. The credit is non-refundable so if you have less than $1422 in taxes owed, it will only reduce the amount owed to $0. ie if you only owe $50 in tax for the year, you'll only receive $50 credit. You can carry forward any unused amounts for upto 5 years.