Tax Tip - Clarifying the CRA's approach in administering the proposed tax measure to extend the 2024 charitable donations deadline Français

OTTAWA, ON, Jan. 23, 2025 /CNW/ -The Canada Revenue Agency (CRA) is working to ensure that you get the information you need about the taxes and benefits that apply to you.

On December 30, 2024, the Department of Finance announced the federal government's intention to amend the Income Tax Act to extend the deadline for making charitable donations eligible for tax support in the 2024 tax year. Following this, 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. For more information, visit the Department of Finance website.

To help provide certainty as we head into tax season, the CRA is confirming that it will proceed with administering the 2024 deadline extension for charitable donations. The CRA is administering this proposed legislation, consistent with its longstanding practice. 

What does this mean for charities and other qualified donees?

Charities and other qualified donees should continue to issue official donation receipts according to the receipting rules.

A charity or other qualified donee is not required to issue official donation receipts specific to the extension period. However, it may wish to do so as a courtesy to its donors, if they generally receive only one annual receipt for multiple donations.

The extension will not affect how charities and other qualified donees report tax-receipted revenue on your 2024 and 2025 information returns. All official donation receipts issued during your 2025 fiscal period should be reported on your 2025 information return.

What does this mean for donors?

Individuals may claim the eligible amount of certain gifts made to charities and other qualified donees up to February 28, 2025, on their 2024 personal income tax return. Please see the Department of Finance website for details of certain exceptions.

If you do not claim gifts made to charities and other qualified donees up to February 28, 2025, on your 2024 personal income tax return, you can still claim the amount on your 2025 return or carry forward the amount. 

Corporations and graduated rate estates are also eligible for a deadline extension. For more information, go to Extension of 2024 charitable donations.

We will continue to update our web content to provide more guidance as it becomes available.

Contacts

Media Relations
Canada Revenue Agency
613-948-8366
[email protected]

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SOURCE Canada Revenue Agency