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| *The Commerce Journal>>>Canada Taxes |
Canadian taxes question about donation receipts? |
I am about to file my 2007 return and only have $120.00 in donation receipts. I've heard that you can use donation receipts from previous years. Is that allowed? What are the rules about this? Yes, u can deduct the 2006 yr donation as well in 2007. Charitable donations are deductible from net income for taxes to the extent that the current and prior year donations carried forward do not exceed 75% of net income for taxes. |
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