Ontario Tax Credit
...deductible from Ontario Tax Payable
| 75% of the first $300 |
| 50% of the next $700 |
| 33.33% of the next $1275 |
The maximum allowable credit is $1000.00
For example:
A contribution of $500 will cost you $175
A contribution of $300 will cost you $ 75
If the total of tax credits exceeds the Ontario tax payable the amount is refundable.