Tax Receipts for Gifts
What is a Gift? The Canadian Income Tax Act permits non-profit organizations with charitable status to issue receipts for income tax purposes for donations that qualify as “gifts”. “A gift must be given freely, ” according to the Canada Revenue Agency. For a donation to be considered a gift and be eligible for a tax receipt: It is given voluntarily.
- Topic:
- Ensuring a successful sponsorship year
- Type:
- Fact Sheets