This year, the online auction raised $22,000! Thanks to the local companies that generously provided 136 auction lots and to the many donors who bid on the items.
Tax receipts for auction purchases
When you buy an item from the auction, you are entitled to a tax receipt so long as the following conditions are met:
- The price paid for the item exceeds its market value.
- The item’s market value is no more than 80% of the price paid for it.
How is the amount of the tax receipt calculated?
We determine the amount of the donation using the following formula: price paid for the item (final bid accepted) minus the value of the purchased good (its market value).
Please note! Some types of items at auction are not eligible for an income tax receipt. Please see the online auction site for details or contact us at firstname.lastname@example.org