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What does "gift in-kind" mean?
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A gift in-kind means a gift in another form other than cash. |
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Why do I have to write 2 cheques when I participate?
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They are to two different organizations. The first is written to HEDAC, and is the cash pledge for which you will receive a charitable donation receipt for 20% of the amount pledged. The second is to Relief Lending Group Inc. and is for the prepaid interest on the loan for 4 years; the loan that enables you to purchase Essential Medicine. |
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Is there a limit to my participation?
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Yes, there is a limit. A donor may receive tax credits resulting from donations of up to 75% of their income. As well, if you donate more than the allowable amount, you may carry the tax credit forward up for up to 5 years into the future. |
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What is the amount I should see on my donation receipts?
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The amounts on the receipts from the charity will be based on the amount you paid for the pharmaceuticals and subsequently donated. The receipt for the 3% cash donation will be 20% of the amount donated. |
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How do I report my donations on my tax return?
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When filing your taxes, ensure that you keep a copy of all paperwork that you have from Relief Lending Group. You will need to submit your tax calculations, your donation receipts, and your T5003 form which will be sent from RLG in time to file your taxes. |
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What happens if the CRA chooses to perform an audit on my participation in the program?
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In fact, it is certain that the CRA will perform an audit. However, it will be confined to an audit of your participation in the tax shelter only. RLG will be there to assist you in the steps you should take to deal with the audit. A legal defence fund is in place to fully defend any CRA challenge. |
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Who and where do I call if I have any questions about the program and its processes?
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The first person you should contact is the person who referred you to the program as they would best understand your personal questions and needs. After that, you can call Relief Lending Group directly at (416) 633-4700, or to email them at admin@relieflendinggroup.com. |
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