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For 2007 and future years, Albertans will be able to claim 50% of charitable donations over $200. This results from the Alberta component increasing from 12.75% to 21% and this includes the federal component.
Item #1 below is the press release.
Item #2 is the text from the relevant budget document.
Both documents are dated April 19, 2007.
Item #1 Charitable Donations
Alberta’s tax credit for total annual charitable donations over $200 will be increased to 21 per cent from 12.75 per cent. When combined with the federal charitable donations credit, Albertans will receive a 50 cent tax credit for every dollar donated over the $200 threshold.
Item #2 CHARITABLE GIVING
Charitable donations have a tremendous impact on the lives of Albertans. Donations support organizations that make our communities stronger. They fund important medical research, provide shelter and meals for those in need, and help newcomers to Canada. The provincial tax system encourages charitable donations through a tax credit, which is worth 10 per cent on the first $200 of a taxpayer's total donations and 12.75 per cent on donations over $200.
The Premier made a commitment to increase support for charitable giving to registered charities. With this budget, the charitable donations tax credit for total donations over $200 will be enriched by over 60 per cent, reducing revenue by $80 million annually. Effective for 2007, donations above $200 will be eligible for a credit of 21 per cent, encouraging Albertans to give even more. Including the federal charitable donations credit, Albertans will receive 50 cents in tax credits for every dollar donated over the $200 threshold.
Canada Revenue Agency the Federal Government – Giving to Charity – Guide to Donors
Please go to www.cra-arc.gc.ca/tax/charities/donors/menu-e.html