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Charitable Donations Credit mu tivu tu'itiloi than Y mth dunulmns mum a tcderal lax l‘l’t'dil ot lb pm n-m lit-rump dora, [huh in exams ot 1111s amuum generate a 29 per cent credit, combine donu- tions wherever possible. For example. donatium made separately by you and your spouse should be reported on a single tax return if pooling the dona- tions increases the amount of total donations qualifying for the 29 per cent credit, If advantageous, defer making tax use of your donations to a future year, as pooling unused donations can also allow you to increase the amount qualify- ing for the 29 per cent credit. How to avoid the dreaded clawhaek Donations can he carried forward for five years, Old Age Security- avoiding the clawback he Old Age Security I (OAS) pension is a monthly benefit avail- able to most Canadians 65 RUSS MCEACHNIE While everyone meeting these eligibility require- ments is eligible for an OAS pension, higher income pensioners must repay part or all of their benefit through the tax system. To avoid the clawback and retain as much of your HAS pension benefits as possible, structure your income in a manner that will allow you lo report only as much income as you This fellaylilenl is com- monly known as the "claw- back". \(‘dlx ol .lgr lll uldu \ppln.|lll~. “In: Inn" lived Ill 1 .umdu lot a! Ivml 10 3mm lsrayottd lltei, Hill) toirtllday sm- "hy,ilole I'm llu' lull pumlun while thaw with an least IO wars ot result-nu- after turning llt are eligible for partial rrenetits. . Withdrawing only the minimum required from your RIF . Seeking out non-regis- tered investments offering preferential tax treatments. Hon I0 keep your taxable income to a minimum emailing only as much Rim‘unu- ax yuu require 1m allow you take tull advantage of the Age Credit and help preserve your Old Age Security pension. Consider: . Splitting income with your spouse 7 . living off capital rather than income . Delaying the start of CPP benefits I will review the next two of the Top 10 Tax Tips for Retirees in two weeks time. Il'lllllll' lo Inn-l it"il m-nls