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Friday, September 4, 2009


The one part of my investment plan that I haven't followed through with that much yet is donations. In Canada, if you donate up to $200 you get a tax deduction at the lowest rate, and then get a tax reduction at the highest rate for any donations over $200.

My plan would be to pick my favourite charity and then (like everything else in my financial life) to make it automatic. Every month (or every paycheque more likely) I will automatically donate to my favourite cause. Being frugal I will also get some money back in tax time.

My other suggestion is that whenever you donate to a charity, please check the "Send a tax receipt" check when you register. Even if the receipt is for $20 or whatever your donation is, it will help yourself in the end. The Canadian government is encouraging us to donate so we should take advantage.

Check out the website for more information.

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