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Tax Information

SUMMARY OF TAX BENEFITS RESULTING FROM DONATIONS OF GOODS

The Musée Canadien de l’Arme et du Bronze is a registered non-profit organization authorized to issue official tax receipts for charitable donations, eligible on income tax returns.

Thus, an individual, estate or corporation donating certain goods to the Musée Canadien de l’Arme et du Bronze ,will receive a tax receipt for charitable donations to the museum, for an amount representing the value of the good donated and receive calculated tax benefits based on that value.

The resulting tax benefits calculated from charitable donations, according to the tax rate for the year 2016, are as follows:

CONTRIBUTE TO THE DEVELOPMENT OF THE MUSÉE CANADIEN DE L’ARME ET DU BRONZE

There are many ways to contribute to the growth of the Musée Canadien de l’Arme et du Bronze. For all contributions of money or property, a tax receipt is also issued. Here are some ways you can donate.

The donor is an individual or estate:

Federal: tax credit of 15%  on the first $ 200 of donations annually and 29% of amount that exceeds $ 200

Quebec: tax credit of 20% on the first $ 200 of donations annually and 24% on the amount that exceeds $ 200

For example, an individual or estate making a donation of artwork to the museum valued at $ 2,000 will receive a combined tax saving of $ 933 to $ 964 depending on the amount of the donation.

The donor is a corporation:

Federal: the deductions in taxable income and tax savings are calculated according to the tax rate of the corporation (rates ranging between 11% and 38,67%)

Quebec: the deduction in taxable income and tax savings are calculated according to the tax rate of the corporation (rates ranging from 4% to 11,9%)

For example, a corporation making a donation of artwork to the museum valued at $ 2,000 will receive a combined tax saving of $ 290 to $ 1,011 depending on the tax rate of the corporation.

The donation of certain property having a value greater than $ 1,000 could result in the realization of a taxable capital gain for the donor. It is recommended that the donor consult their tax advisor to determine any fiscal consequences of such donations.

Musée canadien de l’Arme et du Bronze
  • 53, rue Dufferin, suite 1 Granby (Québec) J2G 4W8 Canada
  • (450) 405-4585
  • bell@museemab.com
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