6.7 million seniors are receiving a tax-free $300 from the Canadian government in July to help cope with additional costs caused by the Covid pandemic. But many of us in fact have reduced expenses due to cancelled trips, no cinema or restaurants, and even the inability to get a haircut.
If you don’t require the money, we encourage you to donate it to those who do.
Charities have also been seriously impacted by the pandemic, either because of increased demand on their services, cancelled fundraising events or loss of income for working donors.
CanadaHelps, a self-funded non-profit, has supported more than 22,000 charities with their affordable online technology for over 20 years. They have listed charities in their Seniors Giving Back program here - including international, national and local organizations, supporting infants to the elderly, individuals and communities, the arts, hospitals, animal rescue, food programs and the environment.
A donation of $600 would be mostly reimbursed to you by virtue of the $300 tax-free gift received this month plus the charitable donation tax credit you would receive in early 2021. We encourage you to give even more, if your expenses have indeed been reduced.
Note: To add your favorite charity to the list, email them at [email protected]