Thread: Canadian Tire Cheats Generous Canadians Who Donate to Charities (Jumpstart)

<sigh>

Mornings just aren't as fun anymore, without that kick-start of hilarity, from the demented ramblings of our beloved mascot, Moaner1 ...

I suppose Jumpstart does some good things, but clearly there's a conflict of interest when a CT store owner makes financial decisions on behalf of the CT Jumpstart charity.

As a charity, but they should choose their tax receipt policy based on what's fair to the donors, and to encourage as many donations as they can.

However, when Jumpstart sets a higher limit for issuing tax receipts, then the Stores can claim a higher tax credit for themselves, using the customer-donated money.

Letting a store owner decide when Jumpstart gives customers a tax receipts, means letting the store owner decide when their store gets to claim a tax receipt.

It comes down to this decision: "Gee, should I let the customer claim this tax credit, or should I claim it for myself, and gain a financial advantage?"

Makes me wonder how many store owners are on the board of Jumpstart, and facing this conflict of interest ...

OK, it usually takes a while to wade through all the Crap posted by The Moaner.

So let's get started with the next round: the distractions.

Instead of addressing the topic at hand, The Moaner likes to make up new claims, then vigorously deny them, as if somebody else had actually said these thing.

(This fantasy about "you said Jumpstart is a scam" is typical.)

Sure, it sounds like a denial, and it serves keeps the focus off of the scam Crappy Tire pulls on consumers. But it's all just a bunch of B.S.

Originally Posted by Owner 1

We do not choose which local kids recieve the funds, in fact we don't even get to see who gets them, that information is private.

Intesting idea. But irrelevant, even if it turns out to be true.

Originally Posted by Owner 1

They dole out the funds, they issue the tax receipts, THEY are the charity. I'm a for profit retail business.

Actually, I'm pretty sure that's true. But who cares? It's irrelevant, and nobody said otherwise.

Originally Posted by Owner 1

I'm not getting any extra tax credits on behalf of JUmpStart LOL that's ridiculous

Yup, it sure is ridiculous! But again, nobody said they got "tax credits on behald of JUmpStart".

No, we said they get RECEIPTS FROM Jumpstart, on BEHALF of consumers!

Originally Posted by Owner 1

sure hope those students are your kids or grandkids or you just committed tax fraud

Actually, they can also be step-kids. But hey, nobody would every accuse The Moaner of being a tax expert! Obvously!

More on their other stupid statements, soon.

A rainly Friday night is a good chance to catch up on some unsued humiliation opportunities with The Moaner.

Over in the Lies thread (how appropriate!), The Moaner posted the following absurdities:

Originally Posted by Owner 1

Unless you annual income is $350.00 a $2 donation would not give you a tax break.

I think The Moaner meant $35,000. Let's give him/her the benefit of the doubt, shall we?

CRA themselves have a very different way of calculating tax credits, which is not so kind to The Moaner.

See this link for an estimate:

CRA - Donations and donors - Tax savings - Charitable donation tax credit estimator

You can see for yourself that even a $1 donation has an estimated tax credit of $0.20 (i.e. 20%).

The exact amount depends on your province and other details of your tax situation - that's why it's an estimate.

But, you know what? I've still got TurboTax installed from the spring. So, I thought I'd do some sample calculations.

If you had no other deductions, and only straight employment income, would you get a refund for a donation of $1? $2? And does income matter? What about Moaner's magic $35,000?

Well, here's what I found out:

A donation of as little as $5 will give you a tax credit of about $1, whether you earned $20,000 or $50,000

So, this theory that "Unless you annual income is $350.00 a $2 donation would not give you a tax break"? Completely incorrect, and highly misleading.

The interesting thing was the upper limit: the more you make, the more you can deduct. Someone earning only $20,000 will 'max out' at a donation of $4,300. But someone pulling in $50,000 will see a benefit for every dollar they donate, up to about $24,000.

Bottom line:

Every dollar matters, whether you only make $20,0000, or you make $50,0000.


Oh, and one other thing:

Even if you CAN'T use the tax credit, that doesn't mean The Crappy People are entitled to take if from you!

Just because I'm unable to drive for while, does that make it OK for someone to steal my car?? Of course not!

It's all just an excuse for the Crappy Owner, to make cheating you sound like it's not so bad!

Don't be fooled! They just want to scam you out of your tax credit! You've been warned!