Tax Credit Information

Federal tax credit summary

You could get as much as 75% of your contribution back.

 

You Give Credit You Pay

$50.00 $37.50 $12.50

$100.00 $75.00 $25.00

$400.00 $300.00 $100.00

$750.00 $475.00 $275.00

$1,100.00 $591.67 $508.33

The credit is based on donations made in a calendar year. Donate before December 31^st to maximize your credit.

 

Federal tax credit (in detail):

The federal tax credit is equal to 75 percent of the first $400 of your donation; 50 percent of the next $350, and 33⅓ percent of the amount of the donation over $750. The maximum credit is $650*. Confusing? Just use this Federal Tax Credit Calculator to see what you would get back.

The credit is available for donations to the Liberal party (including provincial divisions of the party), registered Liberal riding associations and confirmed Liberal candidates in an election.

The credit is available for donations to Bob's leadership campaign through bobrae.ca because those donations are processed via the Liberal Party. If you give to Bob's leadership campaign and the Liberal Party (in the same year) a maximum of $1,100 of your combined donations would be eligible for the credit (even though you could give a combined total of $2,200 in one year).**

The credit applies to donations given in a calendar year. For example, if you donate $400 to the Liberal Party on December 31, 2008 and another $400 on January 1, 2009, you would get a $300 credit on your 2008 tax return and another $300 credit on your 2009 tax return. By donating before and after December 31, 2008 you could get a larger tax credit.

The amount of the credit is deducted from the total taxes you owe at the end of the year.

More examples:

You Give (2008)	Amount eligible	Credit	You Pay
$1,100 to Bob for leader through bobrae.ca	$1,100	$591.67	$508.33
$1,000 to Bob for leader through bobrae.ca and $1,000 to the Liberal Party (total $2,000)	$1,100	$591.67	$1408.33
$500 to Bob in the recent by-election $500 to Bob for leader through bobrae.ca	$1,000	$558.33	$441.67

 

This page is for informational purposes only. For the complete details see the Elections Canada Webpage and the Income Tax Act.

 

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*A total political contribution of $1275 is required for a credit of $650. Although only $1100 can be contributed to the Liberal Party of Canada

 

**The tax credit will apply to a maximum of $1,100 of your donations through liberal.ca and bobrae.ca. In other words, the amount of your donation to Bob's leadership campaign that is eligible for the credit will be reduced by the amount you have donated to the Liberal Party this year. For example, if you give $1000 to the Liberal Party and $1,000 to bobrae.ca in the same year, only $1,100 of your $2,000 donation will be eligible for the credit.