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Summary PolicyDate Reference Number Key Words A registered charity can issue an official donation receipt to the donor for the fair market value of property donated for a charity auction. Generally, a registered charity cannot issue an official donation receipt to the persons who buy items at a charity auction. However, where the value of an item can be determined and is made known to all bidders in advance and where the amount paid for the item exceeds the posted value, a registered charity can issue an official donation receipt for the eligible amount of the gift (i.e., where the posted value of the item does not exceed 80% of the accepted bid.) References |
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