easy tax return?

[torpedo]

I came across this: http://www.globallearningsystems.ca
It claims if you make purchase of learning software at whole sale price and donate to a charity at retail price (significantly higher), then you are entitled to tax credit larger than what you paid it for. It looks very ligitamate. I even called an agent and he sent me charity # and verified with CCRA, and a website where you can see the retail price of the software.
I Am still a little nervous about this. Could anyone tell me if they have experience participating in this kind of program. I just don't want to fall into another scam! Please let me know your opinion even if you have not done this before.

 

[PuShAkOv]

So you mean that if a program costs $100 retail and you buy it for $50... donate it and you can write off $100 from taxables? Seems kinda akward since from $100 non taxable income you would save around $30 (from taxes) compared to the $50 you have spent to buy the program for lower price in the first place...

am I missing something?

 

[torpedo]

In this scheme it's actually 1:6. You buy something for $1000, and donate it for $6000 charity receipt. You of course have to pay $5000 x 50% of capital gain tax (if you have capital loss to cover it it's even better), but the difference works out you still gain.

 

[epj3]

yeaaaa....just pay your damn taxes.