Political Contributions Tax Credit

By mmuise
Description:

The Political Contributions Tax Credit is a non-refundable tax credit on contributions made to registered political parties, registered district associations or registered non-affiliated candidates.


Comments on Funding:

The Political Contribution Tax Credit is equal to the lesser of $500 or the sum of:
- 75% of the total contribution amount if the total amount does not exceed $100,
- $75 plus 50% of the contribution amount by which the total amount exceeds $100 if the total amount exceeds $100 and does not exceed $550, or
- $300 plus 33 1/3% of the contribution amount by which the total amount exceeds $550 if the total amount exceeds $550.

Deadline: Rolling deadline
Eligibility:

Applicants must:

  • be Newfoundland and Labrador corporations,
  • have made contributions to registered political parties, registered district associations or registered non-affiliated candidates.
Application Steps:

Applicants must file the corporation’s T2 Corporation Income Tax Return together with the official receipts for political contributions.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.

About the author
mmuise