As announced on December 30, 2024, the Government of Canada intends to amend the Income Tax Act to extend the deadline for making donations eligible for tax support in the 2024 tax year until February 28, 2025. On January 23, 2025, the Department of Finance announced that it had released draft legislation in support of this proposed change, which will be introduced in Parliament in due course.

The Canadian Revenue Agency (CRA) has stated that to help provide certainty heading into tax season, they will proceed with administering the 2024 deadline extension for charitable donations and will administer this proposed legislation, consistent with its long-standing practice.

Individuals may claim the eligible amount of certain gifts made to charities or other qualified donees up to February 28, 2025, on their 2024 personal income tax and benefit return. In light of these new regulations, we will issue two donation receipts:

1)      For all donations between January 1 and December 31, 2024
2)      For all donations between January 1 and February 28, 2025

If you do not claim these donations up to February 28, 2025, on your 2024 personal income tax and benefit return, you can still claim the amount on your 2025 return or carry forward the amount.

For more information, please visit the Canada Revenue Agency’s website.