  Charitable donations and gifts |
Enter all current year donations and prior year carryforwards in the Charity group of the relevant option. DT Max will print schedule 2 containing all amounts entered and calculate the allowable deduction based on the information entered for the client.
The following options are applicable for the keyword Charity.
Charitable donations 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.
Contributions to foreign charities are not generally deductible unless provided by treaty.
Community food program donation for farmers - Ontario A corporation that donates agricultural products to eligible community food programs in Ontario, including food banks, may be able to claim a tax credit.
The tax credit is equal to 25 per cent of the corporation's qualifying donations for the tax years ending after December 31, 2013, that the corporation claimed on Schedule 2, Charitable Donations and Gifts.
Food bank donation for farmers - NS A corporation that donates agricultural products to eligible food bank in Nova Scotia may be able to claim a tax credit.
The tax credit is equal to 25 per cent of the corporation's qualifying donations for the tax years ending after December 31, 2015, that the corporation claimed on Schedule 2, Charitable Donations and Gifts.
Food donation for farmers - BC A corporation that donates agricultural products to registered charities, such as food banks or school meal programs in British Columbia, may be able to claim a tax credit.
The tax credit is equal to 25 per cent of the corporation's qualifying donations for the tax years ending after February 16, 2016 and before January 1, 2024, that the corporation claimed on Schedule 2, Charitable Donations and Gifts.
Gifts to Her Majesty in right of Ontario Gifts to Her Majesty in right of Ontario are fully deductible when computing taxable income for Ontario purposes.
Gifts of cultural property Gifts of cultural property are fully deductible from net income for taxes. No taxable capital gain is required to be included in income for this donation.
Gifts of ecological property Gifts of ecological property are fully deductible from net income for taxes. No taxable capital gain is required to be included in income for this donation.
Gifts of medicine made before March 22, 2017
Gifts of musical instruments - Quebec Gifts of musical instruments are fully deductible from net income for taxes. No taxable capital gain is required to be included in income for this donation.
 See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 202 - Charitable donations
Line 311 - Charitable donations
Line 313 - Cultural gifts
Line 314 - Ecological gifts
Line 315 - Gifts of medicine
 See the CRA's general income tax guide:
Line 311 - Charitable donations
Line 313 - Cultural gifts
Line 314 - Ecological gifts
Line 315 - Gifts of medicine
Use the keyword Proceeds-Disp to enter the fair market value of the donated medicine needed to calculate the current-year gifts of medicine. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword Cost.ch to enter the cost of gifts of medicine needed to calculate the current-year gifts of medicine. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword Elig-Amount to enter the eligible amount of the gifts of medicine needed to calculate the current-year gifts of medicine. Use [Alt-J] to enter different values for other jurisdictions.
Enter the amount donated to the charity as well as the charity's name and registration number. Enter a colon (:) to separate the charity name and the registration number (memo).
The current year contributions will be added back to net income on schedule 1. Use [Alt-J] to enter different values for other jurisdictions.
Enter all contributions carried forward from the immediately preceding taxation years in Amount-CF in the Charity group of the contribution's type. The amount entered will print on schedule 2 and will be used to calculate the deduction for charitable donations or gifts.
The following options are applicable for the keyword Amount-CF.ch.
1st prior year
2nd prior year
3rd prior year
4th prior year
5th prior year
6th prior year
7th prior year
8th prior year
9th prior year
10th prior year
11th prior year
12th prior year
13th prior year
14th prior year
15th prior year
16th prior year
17th prior year
18th prior year
19th prior year
20th prior year
Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 202 - Charitable donations
Use CharityLim to limit the charitable donations or gifts to be claimed this year.
This amount will be claimed on schedule 2 lines 311 through 315 of the T2 return, and on the equivalent provincial schedules and lines, if it is less than the maximum allowable claim calculated on schedule 2. Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 202 - Charitable donations
Use the keyword Charity-Tran to enter donations transferred on amalgamation or wind-up of a subsidiary. Use [Alt-J] to enter different values for other jurisdictions.
Where control of a corporation is acquired by a person or group of persons, there is a forced year-end of the corporation for tax purposes at the time control changes. Charitable donations made after March 22, 2004, cannot be deducted in computing the corporation's taxable income after the end of a taxation year forced by such a change of control.
In addition, where control of a corporation is acquired forcing a corporate year-end in advance of a charitable donation, but the property that is the subject of the gift was acquired under an arrangement made in the expectation of the change of control, the charitable donation is denied for gifts made after March 22, 2004.
Use the keyword Adjustment.ch to enter the amount of adjustments for an acquisition of control for donations made after March 22, 2004. Use [Alt-J] to enter different values for other jurisdictions.
Use the keyword NonQual-Gift to enter a taxable capital gain in respect of deemed gifts of non-qualifying securities per subsection 40(1.01) of the ITA. Use [Alt-J] to enter different values for other jurisdictions.
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Proceeds-Disp 