Tax credit for donating car to teen challenge Ontario Canada? - car taxes ontario value
I wonder whether it is worthwhile to donate my car for the youth program here in Ontario challenge. I'll give you a tax credit for the amount of cars is estimated to be $ 1000-2700. I make 29k per year, it is worthwhile for me to get a tax credit, I mean, as I Durin "income tax time go?
Monday, February 8, 2010
Car Taxes Ontario Value Tax Credit For Donating Car To Teen Challenge Ontario Canada?
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3 comments:
The federal government, you have 15% tax credit on the first $ 200, and 29% of donated over $ 200. There is a similar credit line in Ontario.
The tax savings is approximately $ 1,000 assuming the car valued at $ 2700th
18% of the value of the tax receipt issued. If your tax credits are nonrefundale more than 0, then there is no benefit, except bubbly warm feeling you get into it.
Are you done to help or simply for the tax credit. If you are concerned for all the honor, it is not worth it. You will receive more money if you sell them all.
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