Tax Benefits

When you support students and education, you can make a lasting difference and receive significant tax benefits. Your gift to the NIC Foundation is 100% tax deductible, and we will issue you a receipt (for gifts of $20 or more) for income tax purposes which can offset your payable income taxes now or in your estate plans.

Calculate your Tax Credit

Check out the CanadaHelps Charitable Tax Credit Calculator to estimate how much of a tax credit you may receive based on your province or territory and the amount you donated. The calculator provides an estimate of your federal and provincial charitable donation tax credits and can help you understand the tax benefits of charitable giving when preparing your annual income tax return.

For detailed information about claiming charitable donations on your income tax return, visit the CRA's Donations and Gifts information page.

Donating Shares

Thinking of donating appreciated assets such as stocks, mutual funds and RRSPs/RRIFs? Our online tax savings calculator demonstrates donor benefits of our non-cash ways of giving, either now or down the road. Estimate your tax credit and see the impact of your donation.

Plan Your Legacy

A charitable bequest in your will can offer a number of personal and financial advantages to you and your estate. With our online tax savings calculator , you can see how making a bequest in your will can reduce the taxes owed by your estate, leaving more funds for the people you love.

Tips about the Tax Benefits of Donations

• Charitable donations may be claimed up to an annual limit of 75% of net income (100% for gifts made in the year of death, including gifts such as bequests).
• Individuals and corporations who donate shares or other securities get a tax break on any resulting capital gain.
• Unclaimed charitable donations can be carried forward up to 5 years. But, you have to claim donations you carried forward from a previous year before you claim donations made in the current year.
• Either spouse can claim a charitable donation tax credit, regardless of which spouse's name is on the charitable donation receipt.

Our website information is intended as a general overview only and not as legal or tax advice. Please consult with a qualified professional advisor to determine the best strategy for your situation.