<div id="attachment_125416" style="width: 411px" class="wp-caption alignleft"><img class="size-full wp-image-125416" src="http://www.moneysense.ca/wp-content/uploads/2015/07/donate-charity.jpg" alt="charitable giving" width="401" height="217" srcset="http://www.moneysense.ca/wp-content/uploads/2015/07/donate-charity-300x162.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2015/07/donate-charity.jpg 401w, http://www.moneysense.ca/wp-content/uploads/2015/07/donate-charity-400x217.jpg 400w" sizes="(max-width: 401px) 100vw, 401px" /><p class="wp-caption-text">(Peter Dazeley/Getty Images)</p></div>
<p>The Liberals’ new income tax bracket has made charitable giving extra confusing. For the 2015 tax year, do-gooders still get a 15% credit on the first $200 of total donations, and everything above that gets a 29% credit. But starting in 2016, you’ll receive a 33% tax credit on a part of your donations if your income exceeds $200,000. Take someone earning $203,000 who donates $10,000: She’ll get a 15% credit on the first $200, 29% on the next $6,800 and 33% on the final $3,000 (the amount above the $200,000 income mark).</p>
<p><strong>The bottom line:</strong> You may be able to get a bigger charitable tax credit in 2016, depending on your income level.</p>
<p>More <a href="http://www.moneysense.ca/?p=151178" >tax tips</a> here.</p>
<p>The post <a rel="nofollow" href="http://www.moneysense.ca/save/taxes/get-ready-for-a-bigger-charitable-tax-credit/">Get ready for a bigger charitable tax credit</a> appeared first on <a rel="nofollow" href="http://www.moneysense.ca/">MoneySense</a>.</p>
