What Are Tax Deductible Donations?
In Canada, when we donate money to a registered Canadian charity (along with personal information), we are able to count that portion against our net income that we declare to the government.
An Example
For example, you donated $3,000 online to St. Volodymyr Cathedral of Toronto in 2024 after which you received an online tax receipt by email for that amount. When you go to submit your income taxes in 2025 (for the previous year), you will list that amount in the “donations” section, and that amount will be subtracted from your net income that year (up to a limit of 75% of your net income). Let’s say that your net income was $55,000 in 2024. Therefore you would only be taxed for $52,000 that year (many complications do exist, but the essence is that).
Read more from the Canada Revenue Agency website about donations
Even Membership Fees Are Tax Deductible!
Our parish is a registered charity (#850132721RR0001) with Canada Revenue Agency, and when you donate money along with your name and address, we will issue you a tax receipt for all your donations in that fiscal year (Jan.1 to Dec. 31). When the donation is online, the tax receipt will arrive automatically by email. When the donation is by cheque or cash, we will send a tax receipt by mail in February following the end of the fiscal year.
Any monetary donation is tax deductible and more notably, our membership fees are also tax deductible. Please note that simply giving cash without an envelope and name or any identifying data, we cannot issue a tax receipt.
See our parish’s membership fees
Just as our parish’s fiscal year is January to December, our membership fees also follow the same schedule. For example, even if you become a member in November 2024, your membership would need to be renewed again in January 2025.
Our Church Lives on Donations
The Church, as it almost always has, functions solely on donations. Neither the government of Canada nor Ontario provide funding to churches. Each parish must pay for the salary of its clergy and employees as well as for programs, maintenance and capital projects. And this is where we, the faithful, come in. It is thanks to your generous time, support and donations that our parish has existed this many years! And we thank you!
Our parish has benefitted from generous donations from parishioners in the past (such as estate donations) and we have fastidiously tried to be good stewards of these gifts. But we are still a growing parish with two temples as well as a cultural centre, cemetery, and a Ukrainian school (that we support financially) and so the operating costs are still substantial. As such we are extremely grateful for any donations that we receive! Thank you!
“Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.” (2 Cor. 9:7)