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
| DON |
TAX CREDIT |
TAX CREDIT |
TOTAL TAX CREDIT |
NET COST OF DONATION |
TOTAL CREDIT |
|
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 % |
Resources :
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 vdesjardins@jmcanada.ca.
*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
