“Thanks to the special tax credit, I was able to sponsor an Atelier lyrique artist!”
-Normand Cardella, sponsor, and Christopher Gaudreault, pianist-conductor and graduate of the Atelier lyrique
The tax credit for a major cultural gift is an initiative in the Province of Quebec that provides an additional 25% credit on the total amount of a cultural donation.
THE SPECIFICS:
- The credit applies to any cash donation between $5,000 and $25,000 (single or cumulative gift made within the same calendar year).
- The credit may be used only once per individual (or twice for a couple).
By combining the available government tax credits, the net cost of the donation is reduced to 25% of its total value for the beneficiary organization (approximate net cost for a $25,000 gift: $6,700)*.
*The net amount may vary slightly depending on the tax bracket.
ESTIMATION:
HOW TO PROCEED?
Check your eligibility for the tax credit for a first major cultural gift with your financial advisor.
Submit your cash donation to Opéra de Montréal, either in one payment or in multiple instalments.
Complete Schedule V (Tax Credits for Donations – section 3.B, Additional Tax Credit for a Major Cultural Gift) when filing your tax return.
For any questions or assistance, please contact :
Antoine Gervais
Manager,
Philanthropy and Partnerships
(514) 318-5391
agervais@operademontreal.com
