Tax Calculator
TAX PLANNING Remember that charitable gifts to Pro Coro Canada fully qualify for federal and provincial tax credits - reducing your gift's final cost by up to over 40%.
Tax Credit Calculator for Individuals
Enter any one of the following variables in order to calculate the other two.
* This is the minimum tax credit that will be received. Individuals at higher marginal tax rates can receive further tax credits that lower the cost of their donations by up to over 40 cents on each dollar. Please see examples below:
| GIFT AMOUNT | $ 1,000 | $ 2,000 | $ 3,000 | $ 4,000 | $ 5,000 |
| Federal Tax Credit | $264 | $554 | $844 | $1,134 | $1,424 |
| Alberta Tax Credit | $122 | $249.50 | $377 | $504.50 | $632 |
| Total Tax Savings | $386 | $803.50 | $1,221 | $1,638.50 | $2,056 |
| Total Cost of Gift | $614 | $1,196.50 | $1,779 | $2,361.50 | $2,944 |
Tax facts to remember:
- Individuals and corporations who donate shares and other securities listed on prescribed stock exchanges to registered charities or other qualified donees now get a tax break on any resulting capital gain. They will only have to include 25% of the capital gain (as opposed to 50%) in income arising from the disposition of shares.
- The general limit on the deduction of Charitable donations is 75% of net income.
- Unclaimed charitable donations can be carried forward 5 years.
- They may also be transferred to the spouse with the highest income.
Please note tax calculator and chart serve as examples which may differ from individual to individual. Please consult with your financial advisor or planner to determine all eligible tax benefits.
** Calculations based on figures for 2002 taxation year.