Big Tax Benefits of Saving Nature
21 Dec 2020
Maximize your charitable contributions this year, while saving Nova Scotia’s precious wild spaces!
And keep in mind that your tax credit basically doubles for every dollar you donate over your first $200.
The maximum combined federal and provincial charitable tax credit (depending on province) would fall in the following range:
- Your first $200 donation receives a tax credit of 20% to 30%
- Your donations over $200 receive a tax credit of 45% to 55%
For example, if you’ve already given at least $200 this year to a charity and you live in Nova Scotia, you’ll be in an approximately 50% tax credit zone for any additional donations you make this year.
So, in this case, a gift of $1000, would receive a tax credit of $500. That’s like getting half your donation back—yet, you’ve still provided the Nature Trust with $1000 in support of land conservation.
Please consider a special year-end donation now, for nature’s sake—and for the sake of a lower tax bill.
And have a peaceful and nature-filled holiday!