Contents:
Political Contributions
Contribution Limits
Major changes to the political financing regime that came into effect in 2004 and 2007 set limits on political contributions. These were revised upward in 2014 and will increase annually by $25 after 2015.
Limits on Contributions, Loans and Loan Guarantees, 2015*
To see current limits, click here.
| Political Entities | Citizens and Permanent Residents Only |
|---|---|
| Political parties | A maximum of $1,500 per calendar year to each of the registered political parties |
| Electoral district associations | A maximum of $1,500 per calendar year, in the aggregate, to the registered electoral district associations, nomination contestants and candidates of each of the registered political parties |
| Nomination contestants | |
| Party-endorsed candidates | |
| Independent candidates | A maximum of $1,500 per election to each independent candidate |
| Leadership contestants | A maximum of $1,500 per calendar year, in the aggregate, to all of the contestants in a leadership contest |
* Amounts increase yearly by $25, as of January 1, 2016.
A cap of $5,000 is placed on the amount that candidates may contribute to their own campaigns. For leadership contestants, the cap is $25,000. Nomination contestants can contribute an amount that does not exceed $1,000 in total out of their own funds to their own campaign in addition to the permitted contribution limit.
Source: “The Electoral System of Canada” (4th Edition, Ottawa, Office of the Chief Electoral Officer of Canada)
Tax Credits for Political Contributions
Although contributions can take the form of money, goods or services, only a contribution of money to a registered political party, a registered electoral district association or a candidate qualifies for an income tax credit under the Income Tax Act. According to a Canada Revenue Agency interpretation, a monetary contribution to a candidate is eligible for a credit only if it is received between the date that the candidate’s nomination is confirmed by the returning officer and 30 days after election day.
| Contribution | Tax Credit |
|---|---|
| $0.01 to $400 | 75 percent |
| $400.01 to $750 | $300 plus 50 percent of the amount by which the contribution exceeds $400 |
| $750.01 and over | The lesser of:
|
Source: “The Electoral System of Canada” (4th Edition, Ottawa, Office of the Chief Electoral Officer of Canada)
Resources
See Also
- Taxation
- Elections
- Vote
- Income Tax