In the 2013 budget, the Federal Government introduced the First Time Donor’s Credit (the “FTDC”).
The FTDC will increase the value of the federal Charitable Donations Tax Credit by 25% if neither the payer nor their spouse has claimed the credit since 2007. The Federal credit on the first $200 used to be $30 at 15%, and now will be $80 at 40%; and for $1000 the amount used to be $282 at 29% and now will be $432 at 54%.
The FTDC will apply on up to $1,000 for cash donations made between 2013 to 2017.
The FTDC will only be available in the first year a donor or their spouse claims it.
Learn more about your eligible tax credits for registered charity March of Dimes donations.