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Government of Canada announces extension of 2024 charitable donations to February 28, 2025

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Dominic LeBlanc, the minister of finance along with the Honourable Élisabeth Brière, Minister of National Revenue, declared on December 30 that the deadline for tax-deductible charitable contributions has been moved to February 28.

The federal government plans to amend the Income Tax Act to extend the deadline until February 28, 2025, to make donations eligible for tax support in the 2024 tax year.

In a statement, LeBlanc said, “Charities are at the heart of communities across Canada, lending a helping hand to those in need.“

Charities in Canada work tirelessly to combat hunger and poverty, enhance socioeconomic outcomes for Canadians, and maintain informed and connected communities. To do this important work, many charities rely on the kind donations of Canadians and businesses, especially around the holidays.

  • About 86,000 charities are officially recognized in Canada, and many of them rely on contributions from citizens and businesses, especially around the holidays, to continue their work.
  • Nearly $5 billion in federal tax assistance is expected to become available in 2024 for charitable contributions and other eligible donees.
  • The Government of Canada recognizes the vital role registered charities play in Canadian society and encourages citizens to make generous donations. 2024 for charitable contributions and other eligible donees.

By giving donors enough time to make sure their donations are received and processed, this extension will reduce the effects of the four-week Canada Post mail stoppage and enable charities to continue providing essential services to the communities that rely on them.

Our nation’s charities have been significantly impacted by the postal strike. The disruption and delivery backlog occur at the worst possible time—during the most crucial time of the year for fundraising, particularly for mail-based campaigns—even though postal services have now resumed. Many donation requests won’t get to donors in time for them to reply in 2024 as a result of this delay. Donations meant to help those in need will consequently be greatly delayed, placing additional pressure on nonprofits’ resources at a time when their services are most needed.

When Parliament returns in the new year, the government will propose legislation implementing these changes.

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Leya Koshy

CA — Accounting Director, One Accounting

Leya Koshy is a Chartered Accountant (CA) and the Accounting Director at One Accounting. With a strong foundation in accounting principles and Canadian tax regulations, Leya leads the accounting operations at the firm with precision and professionalism. She plays a key role in delivering accurate financial reporting, corporate compliance, and client advisory services across the firm's diverse client base. Her commitment to excellence and detail-oriented approach ensures that clients receive the highest standard of accounting support, helping businesses maintain financial clarity and confidence.

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