FIRST MAJOR CULTURAL DONATION
Have you ever considered making a major cultural donation?
The Quebec government encourages individuals to support culture by offering an additional 25% tax credit for any first major cultural donation.
The conditions for taking advantage of this credit are as follows:
- The gift is a cash donation between $5,000 and $25,000 inclusive;
- The gift was made by an individual (other than a trust) after July 3, 2013;
- The donation was made to an organization that is eligible for this credit, such as the JM Canada Foundation as a registered charity that works in Quebec in the field of arts or culture;
- The individual has not taken advantage of this credit in the past.
Tax credits for charitable donations
Quebec: 20% on the first $200 and 24% to 25.75% on the balance
Canada: 12.53% on the first $200 and 24.22% to 27.56% on the balance
First major cultural donation
Quebec: 25% of the amount
TOTAL TAX CREDIT
|NET COST OF DONATION||
5 000 $
|$ 2,379||$ 1,250||$ 3,629||$ 1,371||72,6 %|
|10 000 $||$ 4,790||$ 2,500||$ 7,290||$ 2,710||72,9 %|
|15 000 $||$ 7,201||$ 3,750||$ 10,951||$ 4,049||73,0 %|
|20 000 $||$ 9 612||$ 5,000||$ 14,612||$ 5,388||73,1 %|
|25 000 $||$ 12,022||$ 6,250||$ 18,272||$ 6,728||73,1 %|
Revenu Québec : LARGE CULTURAL DONATION AND CULTURAL PATRONAGE
Do you have any questions? Would you like to make your first major cultural donation?
Contact Véronique Desjardins at 438-868-0853 or by email at firstname.lastname@example.org.
*Donors should also speak to their tax advisor to discuss their financial situation.
**The Jeunesses Musicales Canada Foundation is able to issue a tax receipt and its registration number with Revenue Canada is 10739 1807 RR0001