I have donated $25 a month for about 11 months last year and have Income tax receipts for them. Do i need to submit those during my tax returns this year? If so what for it is. Will I get any refund on these Income Tax receipts. Please let me know.
I live in New Brunswick and I have some tax credits also from the last year.
Thank you very much in Advance.
When it comes to charitable donations, the General Income Tax Guide says to send in the receipts if you are filing a paper return. If you are filing electronically, keep the receipts in case you are asked to provide them.
You will get a refund on these receipts if you otherwise had taxes that were payable (lines 420, 428, 435 would have to be greater than zero). Work out your tax return without the receipts first, and if either of these lines is zero, hold onto the receipts until next year when you can maximize the benefit from them. On a Tax Return, you can use donation receipts from any of the previous five years, as long as you haven’t used them before.