To help offset the provincial team fees, Basketball Canada offers the Adopt an Athlete Program which can generate an official tax receipt to those donating to the program in the name of an athlete in the program. This donation must come from a non-family member (friend or corporate donation) and be made payable to ‘Canada Basketball’ in order to be eligible. There must be no reference to the athlete or program name made on the cheque itself.Under current federal tax laws, this tax receipt for anyone exceeding $200 in donations in a year, the credit is worth 29% federally and 17.4% provincially for a total credit of 46.4% in tax credits back to the donor. This could potentially mean a refund of approximately $580 if the full amount of $1250 was donated through the Adopt program. The full amount donated through the Adopt an Athlete program will be credited towards the athlete’s account with Basketball Manitoba.
VIEW CANADA BASKETBALL ADOPT AN ATHLETE PROGRAM DOCUMENT
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