What types of gifts qualify for charitable tax credits?
Donations of cash, goods, land, or listed securities (like stocks) to a registered charity or other qualified donees are eligible for a charitable tax credit. For a donation to be eligible for the charitable tax credit, the transfer of ownership has to be voluntary.
Examples of donations that do usually qualify for charitable tax credits include:
- ecologically sensitive land;
- certified cultural property;
- capital property;
- personal-use property (such as prints, etchings, drawings, paintings, sculptures, jewellery, rare folios, rare manuscripts, rare books, stamps, and coins); and
- inventory (such as art, antiques, rare books).
The following do not usually qualify for charitable tax credits:
- contributions of services, such as time, skills, effort;
- certain admission fees to events or to programs (e.g., fees for daycare or nursery school facilities);
- the purchase price of a lottery ticket or other chance to win a prize, even though the lottery proceeds benefit one or more charities; and
- the payment of tuition fees (exceptions exist).
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