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#10
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So, using Rob's math:
Cheque for "work" $1000 less $350 income tax = $650 in pocket, negative $350 Donation from own pocket of $1000 x rate of refund = $350 in pocket, negative $650. Looks like a zero proposition to me and a whole lot of hasstle... Who wants to claim additional income on their taxes, have to make a charitable donation, wait for the receipt, apply it to their tax return and then wait for it to all wash out with CRA? This is assuming that the "work" does not actually cost you more in taxes as your income moves out of one bracket into another. In that instance you will end up not only volunteering your time but paying for it too. ![]() The whole idea of volunteer work is to do work for FREE.
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3RD Echelon Wksp 1968 M274A5 Mule Baifield USMC 1966 M274A2 Mule BMY USMC 1966 M274A2 Mule BMY USMC 1958 M274 Mule Willys US Army 1970 M38A1 CDN3 70-08715 1 CSR 1943 Converto Airborne Trailer 1983 M1009 CUCV 1957 Triumph TRW 500cc RT-524, PRC-77s, and trucks and stuff and more stuff and and....... OMVA, MVPA, G503, Steel Soldiers |
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