Bchiarelli


Taxable Benefits

Who Can Contribute

Under Ontario's Election Finances Act, the Ontario Liberal Party may only accept contributions from individuals, unions that hold bargaining rights for Ontario workers, and corporations that carry on business in Ontario and are not registered charities.

In addition to these legal requirements, the Ontario Liberal Party does not accept contributions from hospitals, colleges, universities, municipalities, or from any organization that receives public funding except as payment for services rendered or goods provided. If you fall within one of these categories, please do not make a contribution.

Contribution Limit:

In each year, any person, corporation or trade union may contribute up to $9,300 to Ontario Liberal Party. Also, you may contribute up to $1,240 to any of our constituency association, but the total contribution to all Ontario liberal constituency associations must not exceed $6,200. This means the maximum annual political contribution allowed in a non-election year is $15,500 to each registered party and its constituency associations.

During an election you may make extra contributions. At election time, you may give up to an additional $9,300 to Ontario Liberal Party and up to $1,240 to any Ontario Liberal Party candidate so long as the total contribution to all Ontario Liberal Party candidates does not exceed $6,200.

Maximum Contributions Annually Extra During a
Campaign Period
  Each Total Each Total
To Provincial Party $9,300 $9,300
To Constituency Association $1,240 $6,200 NIL
To Candidate NIL $1,240 $6,200

Tax Credit - Individuals:

The annual contribution levels and resulting Ontario political contribution tax credits are indexed based on requirements specified in the Elections Finances Act.

The formula is:

  • 75% of the first $372, plus
  • 50% of the next $868, plus
  • 33.33% of an amount exceeding $1,240, but not more than $2,821

The maximum yearly Ontario political contribution tax credit is $1,240 which is reached when you have made eligible contributions totalling $2,821. The tax credit is refundable. This means that if your total amount of tax credits is more than your taxes owing, the Canada Revenue Agency will issue a refund based on the difference.

To be eligible for a tax credit you must be an Ontario resident and you must have made eligible contributions to a registered Ontario political party, registered, constituency association or to a candidate in an Ontario provincial election during that year.

Either spouse or common-law partner may claim the Ontario political contribution tax credit. This tax credit can only be claimed for the year in which the contribution was made.

Tax Credit - Corporations:

Tax credit available for corporations making eligible Ontario political contributions under the Corporations Tax Act is non-refundable tax credit under the Taxation Act, 2007.

The maximum tax credit that a corporation can claim in a year is $2,604 based on political contributions at the annual limit of $18,600. Any contributions exceeding the annual limit will be carried forward to a subsequent taxation year, but will be limited to the annual ceiling for that year.