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Preet Banerjee

Give $1,000 to charity and get up to $744 back Add to ...

The First-Time Donor's Super Credit (FDSC) makes it possible to donate a lot of money to charity - with a much lower overall cost.

In Quebec, if you qualify, $1,000 in donations can end up costing you only $256 after tax. In other provinces and territories you'll save a little bit less, but nonetheless, the FDSC adds 25 per cent in tax savings to whatever you regularly save on taxes.

Click here for Canada Revenue Agency's calculator. You can use it to see how much your donations generate in tax credits depending on where you live in Canada.

Follow on Twitter: @preetbanerjee

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