When you file your receipt with your income taxes at the end of the calendar year, you reduce the amount of taxes you owe to the provincial and federal governments. This amount varies depending on the value of the credit in the province or territory you file taxes in. A greater tax credit applies to amounts donated in excess of $200.
The chart below provides an overview of credit and after-tax costs for a $500 donation in various provinces. To enter a donation of a particular amount, consider using the Red Cross tax credit calculator.