Lines 15 to 30 - Donations and gifts tax credit calculation

The donation tax credit is computed as follows:

Trusts other than GREs or QDTs

For a trust other than a trust that is a GRE or QDT, the donation tax credit is the total of the following:

• The total eligible amount of gifts up to $200 multiplied by the lowest personal tax rate; and

• The total eligible amount of gifts over the $200 threshold multiplied by 33%.

Trusts that are GREs or QDTs

For a trust that is a GRE or a QDT, the donation tax credit is the total of the following:

• The total eligible amount of gifts of up to $200 multiplied by the lowest personal tax rate;

• If the trust's taxable income:

  • is less than or equal to $221,708, multiply the total eligible amount of gifts over the $200 threshold by 29%;

  • is greater than $221,708, calculate the total of "A" and "B," where:

    "A" is 33% multiplied by the lesser of

    • the total eligible amount of gifts for the year that exceeds $200, and

    • the amount, if any, by which the trust's taxable income exceeds $221,708

      "B" is 29% multiplied by the total eligible amount of gifts that exceeds the total of the $200 threshold and the amount used for calculating A.

  Note
  

  Ecological gifts made by any trust after February 10, 2014 and before 2016, a rate of 29% continues to apply to the eligible amount of the gift greater than $200.

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