According to a recent report from the Fraser Institute, charitable giving by Canadians is at a ten year low.
After all your spending for Christmas, it may not be the most opportune time to donate money to a charity.
Tax specialist Gerry Vittoratos of UFile says if you do so by December 31st, you’ll see the benefit of your generosity when you file your income tax return next year.
He says you are really get a good return on your investment. He says there are not many investment vehicles out there that make you feel good about what you are doing and also give you nearly 30 per cent back on every dollar invested.
Vittoratos says there are also additional tax credits available on the provincial side.
