You reduce your taxes If you donate to a charity

Previously I discussed how you can reduce your taxes by making a political contribution.

Well, most of us aren’t exactly enamoured by Canadian politics and political parties, so we need another way to reduce our taxes.

The most noble way of reducing your taxes is by donating to a charity.  This could be something for helping the poor, medical research, or another form of approved charity.

Charitable donations are considered a non-refundable tax credit.

Some helpful links:

Charitable Donation Credit Calculator

Charitable Donation Tax Credit Rates

Claiming Charitable Tax Credits

Although it isn’t classed as a charitable donation for tax purposes, I have to mention Kiva.  It is a very fulfilling service where you can loan as little as $25 to farmers, manufacturers, retailers, and other people who support themselves through personal businesses.  The borrowers are found throughout the world, but most of the recipients are in poorer areas: Africa, South & Central America, and South-East Asia.  I thoroughly enjoy making the loans that I do on there.  It’s worth checking out.