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Bruce Hood Campaign Remember, a portion of your contribution is tax creditable. For example, the first $400 you contribute to a political party during a year will result in a tax credit of $300, so your actual cost is only $100! Your first contribution of $1,000 will only cost $441.67! Consult your financial advisor for more details. Individuals who contribute to political parties must be Canadian citizens or permanent residents of Canada. As of January 1, 2004, contributions by individuals to the Liberal Party of Canada including contributions to Liberal riding associations, election candidates and nomination contestants, are limited to a total of $5,000 per year. Contributions by corporations or unions to the Liberal Party of Canada, other than to the foregoing local recipients, is prohibited. Where corporations or unions wish to contribute to such local recipients, they are limited to a total of $1,000 per year. For more information on contribution rules and limits, visit the Elections Canada's website at www.elections.ca. |
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