must give that surplus amount to an NWT charitable organization or the GNWT Consolidated Revenue Fund. (Section 248).
Taxpayers can claim a tax credit after contributing to a candidate seeking election to the Northwest Territories Legislative Assembly.
A $100 contribution from a person, trust, or corporation may be subtracted entirely right off their Federal Income Tax Payable.
This means that it costs each taxpayer absolutely nothing to contribute $100.
You contribute in September and the Federal Government simply subtracts your credit amount from what you owed them in April.
You either get an extra $100 back, or pay $100 less.
Revenue Canada credits you half the contributed amounts between $100 and $900.Revenue Canada credits you $500 for amounts contributed between $900 and the $1500 maximum allowable.
A $100 contribution actually only costs $ 0 Your credit: $100 A $200 contribution actually only costs $ 50 Your credit: $150 A $300 contribution actually only costs $100 Your credit: $200 A $400 contribution actually only costs $150 Your credit: $250 A $500 contribution actually only costs $200 Your credit: $300 A $600 contribution actually only costs $250 Your credit: $350 A $700 contribution actually only costs $300 Your credit: $400 A $800 contribution actually only costs $350 Your credit: $450
A $ 900 contribution actually only costs $ 400 Your credit: $500 A $1,000 contribution actually only costs $ 500 Your credit: $500 A $1,100 contribution actually only costs $ 600 Your credit: $500 A $1,200 contribution actually only costs $ 700 Your credit: $500 A $1,300 contribution actually only costs $ 800 Your credit: $500 A $1,400 contribution actually only costs $ 900 Your credit: $500 A $1,500 contribution actually only costs $1,000 Your credit: $500