Important news: The 2023 federal budget has introduced significant changes in the tax treatment of donations involving appreciated publicly traded stocks. These changes may impact your tax benefits.
Starting January 1, 2024, the 'Alternative Minimum Tax' (AMT) will undergo changes. The Alternative Minimum Tax (AMT) is a unique method for calculating income tax in Canada, particularly affecting those who claim preferential tax deductions or credits.
For a detailed understanding of the AMT and how it may affect you, we encourage you to consult with your professional accountant or tax advisor. They can provide personalized guidance based on your specific circumstances.
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