For donations of $200 or less, the federal refundable tax credit is 15%. For donations more than $200, the federal refundable tax credit is at a rate of 29% even if you were not in that marginal tax bracket. If you are in the top bracket for 2025 where taxable income commences at $253,414, the federal non- refundable tax credit is at or 33% on a portion of the donation to the extent of your income is taxed at the top 33% federal rate.

Provincial refundable tax credits (that vary by province of residence) are added to the foregoing federal refundable tax credits If you reside in Ontario, Ontario provincial tax credits on donations over $200 for 2025 is at least 42.16%. Combined tax credit for other provinces will depend on their respective marginal tax rates.

Contact your professional advisor prior to implementing any of the outlined strategies.