The Canada Revenue Agency has announced an important update—charitable donations made until February 28, 2025, can now be claimed for the 2024 tax year. This change presents an opportunity for enhanced tax planning strategies for clients.

Key Highlights:

✔ Extended Deadline – Donations made until Feb 28, 2025, qualify for 2024 tax returns.

✔ Eligible Contributions – Cash, cheques, credit card, and electronic payments count; payroll deductions and bequests do not.

✔ Claim Flexibility – Unused donations can be carried forward to future tax years.

Here is a link that will lead you directly to the CRA