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How are charitable deductions calculated?
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May 1, 2021
1:14 PM
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Credits and deductions
Thank you for your question.
Charitable deductions will result in tax credits that are applied on your tax return. The federal tax credit is 15% on the first $200 and 29% for anything above that amount. In some cases, the rate goes as high as 33%. Provincial tax credits,however, vary from province to province.
May 18, 2021
10:08 AM