|Beware of charities offering receipts greater than your contribution.|
The Canada Revenue Agency has issued a warning against participating in gifting arrangements that result in donations receipts worth three or four times the out-of-pocket costs to the taxpayer. The schemes involve such things as buying two pieces of art for $1,000, donating them to an organization or cause and then receiving a charitable receipt for double or triple the amount of the actual cost.
You can not submit tax receipts for more than your donation. Doing so constitutes tax evasion and you may be audited by CRA.
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