Enter the amount you would like to donate into the form and it will automatically calculate the associated tax credit amounts, as well as the net cost of your donation.
|Amount on tax receipt:||$0|
|Tax credit on amount up to $200:||$0|
|Tax credit on amount over $200:||$0|
|Total tax credit:||–||$||0|
Net cost of donation:
Please be advised that the calculator assumes the donor is an Ontario resident; as provincial tax rates vary across Canada, Humber River Hospital Foundation strongly recommends that you discuss your gift with your financial, legal or tax advisor. Individuals can claim up to 75% of their net income in charitable donations each year. In addition any unused tax credit can be carried forward for up to five years. Note: This tax calculator may not capture all of the tax benefits available to you regarding gifts from your estate. Please contact us for more information.
*Formula used: 20.05% x donation amount up to $200 + 40.16% x donation amount above $200. Based on Federal Tax Credit: 15% on Donation amount up to $200 then 29% on remainder and Ontario Provincial Tax Credit: 5.05% on Donation up to $200 then 11.16% on remainder.