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Forgot to claim donations in past year

7K views 8 replies 5 participants last post by  Eclectic12 
#1 ·
I didn't fill Schedule 9 or include any claims for my charitable donations last year. When I do my 2016 taxes, can I include those amounts? (Donations to registered charities made in both 2015 and 2016?)

Does this cause any flags or complications if I do this? The amounts are not particularly huge, $300 last year and $150 this year, but I'd still like to claim whatever I can.
 
#5 · (Edited)
There's this choice ...


or you can file a adjustment to last year's tax return.
http://www.cra-arc.gc.ca/changereturn/


As others have mentioned, it may work out better to let the charitable donations pile up (but not exceed the five year limit) to increase the $$$ at the higher credit rate.


As "flags or complications" ... as long as you have the receipts or a electronic copy, why would you be concerned?
It would not be that difficult to produce them, if asked for - correct?

Plus with such small amounts, there would likely be more juicy targets out there ... unless these were charity scams CRA is already investigating.


Cheers
 
#3 ·
Also you can carry forward any charitable donations you made this year 5 years forward, if there is a tax credit benefit to you.

From CRA website: Line 349 - Donations and gifts
Tax Tip
Carryforward
You do not have to claim all of the donations you made this year on your current year return. It may be more beneficial to carry them forward and claim them on your return for any of the next five years, or over the next ten years for a gift of ecologically sensitive land made after February 10, 2014 .
 
#4 ·
You can add up your donations. It's actually better to keep them every 5 years because the first $200 (Ithink) is deducted at $17% and the remainder at 29%. Can't remember the numbers but adding them together and saving gives you a higher rate.
 
#7 ·
Where the charitable donation amounts are small then yes.

Maybe I lucked out reading a good tax book when starting to file tax returns but with the number of sources (ex. newspapers, web, tax books) that have listed this, may I suggest it may be of benefit to review top tax tips?

For better or worse, I wonder if there are other areas that you may be missing out ... just a thought.


Cheers
 
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