Why should you donate?
Blankets are only one component in our mission to alleviate discrepancies in socioeconomic status, and we hope to expand our outreach to as many individuals in the Lower mainland. If you would like to support the cause, all proceeds go directly towards funding events such as the Annual Blanket Drive, developing educational programs for community members, and providing basic necessities to those in need. All donation receipts issued by the Society are eligible for tax refunds regardless of the amounts donated.
Frequently Asked Questions (FAQS)
1. How much tax refund do I get from my donations?
The tax refund is 20% for the first $200 donated, and 43.7% refund for donations in excess of $200.
2. How do I get my refund?
If the donor is in a tax paying position based on his taxable income,
a) The tax credit will be applied to reduce the otherwise taxes owing
b) The CRA will send the donor a refund cheque if he/she has enough taxes deducted
If the donor is not required to pay tax for the year, the tax refund will be stored in his/her account in CRA’s computer for five years. The refund will be carried forward to offset the taxpayer taxes payable for the next five years in the above manner. The tax refund credit will expire after five years.
3. Can I claim the donation receipts issued under my spouse’s name?
Yes, it is common that both spouses donated separately and received donation receipts under their individual name. Spouses (married or common-law) are allowed to claim their donation receipts under one spouse’s tax return so that the lower threshold of $200 does not get applied twice, see below example.
THANK YOU FOR YOUR SUPPORT:
Darren & Paola Hass