How to Save on Taxable Income While Helping to Restore Lives

As we approach the end of 2023, it is important to note that charitable donations made before December 31 can be used as deductions against this year’s tax return. Canadians have many reasons to donate that include compassion for those is need and caring about members of the community.

Will you consider sharing the spirit of the season by making a tax-deductible gift?

Last year, The Salvation Army helped 2.7 million Canadians. This year, recent research conducted by The Salvation army shows that 1 in 4 Canadians fear they don’t have enough income to cover their basic needs. Your donations matter!

Take Sara for example. After escaping an abusive marriage, she and her young son found themselves without a stable income, doing everything to survive.

“We didn’t have anything in our house, our fridge was empty. The freezer had nothing in it. We were struggling with where to find our next meal. We had no idea where it was going to come from. So, I reached out to The Salvation Army,” says Sara.

December is a month of giving and receiving, a time to help our friends and neighbours experience the joy of Christmas and find a new hope for 2024. The Salvation Army makes it easy to give a gift.

General Donations: Make an unrestricted donation to be used where the need is greatest or designate your gift for a specific program.

Gifts of Securities: By donating a stock, bond, or mutual fund directly to a charity, you avoid having to pay any capital gains taxes on their appreciated value. In addition to eliminating the capital gains tax, you also will receive a charitable tax receipt for the market value of the shares when received in the Army’s bank account.

Corporate Giving: Reduce your company’s tax liability, enhance company morale, and support vulnerable people across Canada when you give a corporate gift.

Thank you for giving your critical attention to help support Canadians in need. Even though there are only a few days left before the new year, your generosity will encourage struggling individuals and families and help them know they have an entire Army on their side.

by SalvationArmy.ca