TAX

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How Do Charitable Tax Credits Help?

This desire to 'do good' without any financial reward might help explain why the number of Canadians taking advantage of charitable tax credits plummeted from 29.5 to 21.9 per cent from 1990 to 2013, and why under six million people claim the federal Charitable Donation Tax Credit each year despite the fact that about 24 million of us (about 85 per cent of Canadians) make an annual financial donation to charity.