Canadians Care has expended considerable time and effort in developing the
details of this tax program and charitable donation initiative. The Canada Revenue Agency treats donations in the following manner:
• Individuals can donate up to 75% of their net taxable income. Any excess
can be carried
forward for a period of five years
• Donations in excess of $200 receive a tax credit calculated at the highest combined
marginal tax rate (46.41% in Ontario, when Ontario surtaxes
have been fully paid)
Details of the Program [Based on Loan of $10,000]: 1. Client applies through Canadians Care Humanitarian Corporation for a three-year full
recourse loan from
GEMS
Capital
[Loan
will be
co-signed
by GEMS
Capital]
2. Client pays
GEMS Capital a fee equivalent to 25% of the loan amount [Fee is to
be used for administrative purposes and to prepay interest charges on the loan] (Loan interest as at prescribed rate as defined by CRA)
3. Client donates the entire loan amount to Trinity Global Support Foundation and
receives a matching tax receipt
4. Client submits the tax receipt to the Canada Revenue Agency and receives
a tax credit equal to 46.41% (Ontario), or $4,641 per $10,000 donation
or contribution
5. Net benefit to the Client is $2,141 ($4,641 [Ontario] - $2,500) plus the original investment
[Click here to see table with information specific to your Province]
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