FAQ: Is the Charitable Donations Tax Credit Calculated when Donations are Entered?

When making charitable donations, you may be eligible for a tax credit that reduces your overall tax liability. Adviice does not automatically calculate this, but you can manually add it to your projections. Here’s how:

1. Go to the Planning Section of your plan.
2. Scroll down to your tax details.
3. Find the "Custom Tax Credits" section.
4. Enter the calculated tax credit for both federal and provincial levels.
   • This is not the donation amount itself but the eligible credit based on your tax rate.
5. Save and review how it reduces total tax owing.