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  1. #1
    Expert Forum User The Ultimate London Mom!
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    Default Charitable donations

    Is there some way of knowing how much a charitable donation
    has to be to be beneficial to us on our tax return? Suppose the people make approximately 100,000 or 110,000. Does the amount the donation has to be to be of use to us vary depending on our income? Does it have to be all to one charity?
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  2. #2
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    Being beneficial is such a subjective term . Every dollar you donate generates a non-refundable tax credit so they all help. The first few hundred in a year get you a credit of 21% and anything over that gets you a credit of 29%.

    In other words, donate $1000 and you'll end up with a credit on your taxes of around $275.

    Couples can share donation receipts (you can claim all the ones your partner made on your return) and you can save them for up to 5 yrs and claim all at once (to generate the higher 29% credit rates)

    Hope that helps

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