Did you Know the following :

1 – Taxes is the biggest expense for Canadians for the last 46 years

2 – According to Fraser Institute in Vancouver – a research company, “the tax bill for average Canadians has increased from 33.5% in 1961 to 45.4% in 2007”

Tax Terms  :

Qualified donees - The Income Tax Act permits qualified donees to issue official tax receipts for donations they receive from individuals or corporations. Registered charities are one example of a qualified donee. Others include Canadian municipalities and registered Canadian amateur athletic associations. For more examples of qualified donees, read Which donations can I claim?

Registered charity - A registered charity means a charitable organization, public foundation, or private foundation that was established in Canada and is resident in Canada. It is operated for charitable purposes and must devote its resources to charitable activities. A registered charity has received a Registration Number from the Canada Revenue Agency and is exempt from paying tax on its revenue. It can issue donation receipts for gifts that it receives.