Mr. Bob made the following contributions during 2020: Cancer Society - $100; Church - $4,000; Liberal Party of Canada - $200; University of Waterloo - $1,000; United Way - $3,000; Conservative Party of Canada - $200. His net income for 2020 after deducting his $16,500 RRSP contribution was $132,000. He makes similar charitable donations on an annual basis. By what amount do the above contributions reduce Mr. Bob’s federal tax liability for 2020?

$2,321

$300

$2,621

$8,100

Answer rating: 100% (QA)

Yes monetary donations to the Society are tax deductible including donations to events like Relay Fo... View the full answer