A significant donation
Is this your first donation in culture?
You may be eligible for an additional 25% tax credit for your first major cultural donation if you meet the following criteria:
- You make a monetary donation of $5,000 to $25,000;
- You are an individual residing in Quebec;
- Your donation is made to a cultural organization (such as the Centre des musiciens du monde).
The standard donation tax credit is around 50%, depending on the taxes you pay on your annual income. The additional credit, worth 25% of your donation, is added to this and reduces the amount disbursed as part of the donation to almost 75%.
| Donation | $2 000 | $5 000 | $25 000 |
|---|---|---|---|
| Federal credit | $460,92 | $1 187,37 | $6 030,37 |
| Provincial credit | $472,00 | $1 192,00 | $5 992,00 |
| Major cultural donation credit | – | $1 250, 00 | $6 250,00 |
| Total credit | $932,92 | $3 629,37 | $18 272, 37 |
| Total cost of donation | $1 067,08 | $1 370,63 | $6 727,63 |
|---|
This table is calculated based on an annual income of under $109,755. For income above $109,755, an additional tax deduction will be added to the provincial credit, and above $214,368, to the federal credit.
