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imabahai@hotmail.ca

Optimization

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Hi imabahai@hotmail.ca,

You should use your charitable donations to reduce your net tax payable to zero. However, you can carry forward the remaining amounts to next fiscal year.

You want to know how to "Modify the optimization of our donations".

To change the optimization of charitable donations, please follow the steps below:

1. In the "Left-side menu on the Interview tab", select the "Donations/political contributions".

2. On the page generated on the right, scroll down to the "Sharing and Optimization" group and click the plus sign "+" icon to the right of the line "Sharing donations between spouses and optimization of donations".

3. In the page titled "Optimization of donations" first, go to the "Federal - Charitable donations" section and the "Select how to distribute your family's charitable donations" line, and from the drop-down menu located at Right, choose the option that suits you.

4. For Quebec residents, go to the "Quebec - Charitable donations and other gifts" section and the line "Select how to distribute your family's charitable donations - Quebec" and in the drop-down menu on the right, choose the option that suits you.

For more information on charitable donations, please consult the following links:

For the federal:

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-349-donations-gifts.html

For Quebec:

http://www.revenuquebec.ca/en/citoyen/declaration/produire/comment/aideligne/ligne395.aspx
 

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