Search This Blog
money saving tips for canadians, best saving tips for canadians of all ages. MoneySavings and Canadian news, financial news
Featured
- Get link
- X
- Other Apps
Federal Government Extends Charitable Donation Tax Deduction Deadline to February 2025
In response to the recent Canada Post strike, the federal government has announced an extension for the deadline to claim charitable donations on tax returns. Originally set for December 31, 2024, the new deadline is now February 28, 2025.
Finance Minister Dominic LeBlanc stated that this extension aims to mitigate the impact of the strike, which significantly disrupted mail-in donations during the crucial holiday season. Charities, such as the Salvation Army, reported a drop in donations by over 50% due to the strike.
The government plans to introduce legislation to amend the Income Tax Act once Parliament resumes on January 27, 2025. This extension is expected to provide charities with additional time to receive and process donations, ensuring they can continue their vital work in communities across Canada.
Popular Posts
Cash vs. Card: Making Smart Payment Choices
- Get link
- X
- Other Apps
Your lookahead horoscope for the week: March 31, 2024
- Get link
- X
- Other Apps
Comments
Post a Comment