For example, if you donated a $400 instrument to Joe’s Music Mill and we sent you a tax receipt for $400, your tax credit would be:
$120.42 (if you have no other annual charitable donations) or
$160.64 (if you already have more than $200 of annual charitable donations*).
We encourage you to request a charitable tax receipt for your donated item!
Thank you for your support!
*Income tax donation credits are calculated on total annual donations:
On the 1st $200 of donations, the tax credit is 20.5% of the donation amount.
On any additional donations, the tax credit is 40.16% of the donation made
For donors in the top marginal rate of tax, there are additional credits available
Due to the Ontario system of surtaxes, the effective rate of your tax savings for
donations will be higher.
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