How Much to Give
How much you should donate is a personal question that depends on your ability to give. CanadaHelps recommends setting up an annual giving budget based on your income and expenses.
If you’re having trouble determining how much to give, consider starting with a monthly donation. You can easily set up an automatic monthly deduction through CanadaHelps to give an amount of $10 or $20 each month to your favourite cause. Evaluate your giving after one year. Can you afford more each month, or was it difficult to sustain that level of giving? Do you want to add other charities that might benefit each month too?
If you have appreciated securities (stocks, bonds, and mutual funds), consider donating from your portfolio. You’ll get an extra benefit on your taxes as a result: you will receive your normal tax receipt, and you won’t pay any capital gains tax on donated securities. Make your gift of securities through CanadaHelps to any Canadian charity.
Don’t forget that your employer might match your donation. Look into the employee giving incentives at your company to maximize your charitable giving.
Remember, the deadline for giving in the tax year is December 31. Donations after December 31st cannot be claimed on your taxes.