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First-Time Donor’s Super Credit (FDSC)

| October 12, 2013

The Federal 2013 Budget introduced a temporary FDSC available to an individual for monetary donations up to $1,000.

Eligibility:

An individual will be considered a first-time donor if neither the individual nor the individual’s spouse or common-law partner has claimed the charitable donations in any of the FIVE preceding tax year.

When can it be claimed?

You can only claim it once from the 2013 to 2017 taxation year

How it works?

For any monetary amount up to $1,000 that qualifies for FDSC will be able to claim not only non-refundable charitable donations tax credit (CDTC) but also FDSC.

 

Example: An eligible first-time donor claims $1,000 of charitable donations in 2013. All of the donations are donations of money. The first-time donor’s FDSC and CDTC would be calculated as follows:
Eligible donation of $1,000 The example is limited to Federal Tax Credit only. For both Federal and Provincial Tax Credit please use CRA’s Donation Tax Calculator
CDTC & FDSC
CDTC Only
Extra Federal Tax Credit
First $200 of charitable donations claimed: $200 x 15% $30 $30
Charitable donations claimed in excess of $800: $800 x 29% $232 $232
First-Time Donor’s Super Credit: $1,000 x 25% $250 n/a $250
Total FDSC and CDTC: $512 $262 $250
(The above Information is for educational purposes only and is current as of October 1, 2013. Please consult your professional advisor or contact our office to discuss this matter in the context of your particular situation.)