It's tax time again!

Gather up your receipts. It’s tax time again.

In 2009, AIDS Calgary raised an estimated $300,000 in fundraising efforts for our programs and services. Fundraising is an essential part of our endeavors and without our donors we would not be able to offer the HIV education, prevention, and support programs that we do.

Donating to a registered charitable organization has some financial perks for you as well. Here are a few tax tips from the Canada Revenue Agency to help you maximize your charitable donations:

• Up to 75% of a taxpayer's net income can be claimed as donations, except in the year of death or the year preceding death.
• Only donations to registered charities and other qualified donees (see the Canada Revenue Agency definition for a qualified donee) can be claimed as charitable donations. AIDS Calgary Awareness Association is a registered charity.
• If any "advantage" was received (compensation or other benefits) in return for the donation (e.g., tickets, meals), the eligible gift for purposes of the donation claim is reduced by the value of the advantage received.
• When a taxpayer has a spouse or common law partner and the combined donations are greater than $200, the donations for both spouses should be combined and claimed on one tax return for maximum benefit.
• You do not have to claim all of the donations you made this year on your current tax return. You can carry your donations forward and claim them on your return for any of the next five years.

If you have any questions about charitable giving to AIDS Calgary Awareness Association or if you need a duplicate tax receipt of donations over $25 please contact Tracie Seeley at tseeley@aidscalgary.org or call 403-508-2500. Thanks again and we look forward to your continued involvement with AIDS Calgary!

Sources
Taxtips.ca. http://www.taxtips.ca/glossary.htm#NonRefundableCredit, Retrieved March 29, 2010.
Canada Revenue Agency. http://www.cra-arc.gc.ca/menu-eng.html, Information retrieved March 29, 2010.