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Political contributions are publicly subsidized via a personal income tax credit that credits 75% of the first $400 contributed, 50% of the amount between $400 and $750, and 33.33% of the amount over $750, up to a maximum tax credit of $650 (reached when contributions by an individual total $1,275 in one calendar year.)
A non-refundable tax credit for charitable donations is calculated at the lowest tax rate for the first $200 in a year, and at the highest tax rate for the portion in excess of $200. Donations can result in a reduction in taxes of between 40 and 60% of the donation depending on the province of the taxpayer and type of property donated.
The Income Tax Act does not define "charity" and Canada uses a common law definition, namely purposes that fall within the four "heads" of charity: the relief of poverty, the advancement of education, the advancement of religion, [3] or other purposes that benefit the community in a way the courts have said are charitable.
The rules governing the funding of parties are designed to ensure reliance on personal contributions. Personal donations to federal parties and campaigns benefit from tax credits, although the amount of tax relief depends on the amount given. Also only people paying income taxes receive any benefit from this.
This forced parties to disclose most donations, but put few limits on who could donate and how much could be given. Individual donations up to $1,150 were given a tax credit, encouraging such pledges. The Conservatives had the largest budget, spending $10.4 million on their national campaign; the Liberals spent $9.9 million, while the NDP spent ...
Section 56.1 establishes a fixed election date for federal general elections as the third Monday of October in the fourth calendar year following the last general election while retaining the power of the Governor General to dissolve Parliament earlier at their discretion. Its companion section 56.2 permits the Chief Electoral Officer (with the ...
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This is an accepted version of this page This is the latest accepted revision, reviewed on 17 December 2024. Further information: Political scandal and Politics of Canada This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "List of political scandals ...
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related to: canada helps donations campaigns and dates for tax year