When you invest in your community through United Way both the provincial and federal governments provide substantial tax incentives.
While tax incentives are not the only reason to give to charity, they are an important consideration.
Your Leadership Investment in United Way of $1,000 or more creates between 36% and 40% in tax savings. These tax savings can be applied to your income tax payable or your spouse's income tax payable.
As the table below demonstrates, the real cost to you of investing $2,000. in your community through United Way is really only $1,234 - a tax savings of $766.
When you consider the same $2,000 donation through payroll deduction or pre-authorized payments from your bank account or credit card, the real cost to you of a $2,000 investment is $47 every two weeks - a tax savings of $30 every two weeks.
|
Donation |
$1,000 |
$2,000 |
$3,000 |
$4,000 |
$5,000 |
|
Total Tax Savings |
364 |
766 |
1,168 |
1,569 |
1,971 |
|
Net Cost to You |
636 |
1,234 |
1,832 |
2,431 |
3,029 |
|
Donation per Pay Period |
38 |
77 |
115 |
154 |
192 |
|
After Tax Donation per Pay Period |
24 |
47 |
70 |
93 |
117 |
|
Donation |
$6,000 |
$7,000 |
$8,000 |
$9,000 |
$10,000 |
|
Total Tax Savings |
2,272 |
2,774 |
3,176 |
3,577 |
3,979 |
|
Net Cost to You |
3,628 |
4,226 |
4,824 |
5,423 |
6,021 |
|
Donation per Pay Period |
231 |
269 |
308 |
346 |
385 |
|
After Tax Donation per Pay Period |
140 |
163 |
186 |
209 |
232 | Table data was provided by KPMG and is predicated on the assumptions that, (a) this is your only charitable donation; and (b) that there are 26 pay periods in a year (every two weeks).
United Way Leadership Investors have a shared vision of a strong and healthy community. By investing $1,000 or more in the United Way you can address immediate needs and create long-term impact for one in three of the people living in your community.
United Way puts your investment to work in four critical 'impact areas', Children and Youth, Individuals and Families, Persons with Disabilities and Seniors.
Please take a moment to consider how these tax incentives might help you to make a lasting impression on your community.
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