Social Impact Newsletter

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March 22, 2017 - Special Budget Edition

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Introduction

The Federal Government of Canada tabled its 2017 Budget on March 22nd.  The Budget was relatively thin compared to the last federal budget and did not contain significant tax changes across any sectors.  Specifically, despite the rumours that have persisted...

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More Substantive Regime for Gifts of Ecologically Sensitive Land

In an effort to preserve Canada’s environmental heritage and encourage donations of ecologically sensitive land (and related easements, covenants and servitudes on such land) (“ESL”) while avoiding conflicts of interest, the Budget limits the donation regime for gifts of ESL....

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Repeal of Additional Deduction for Gifts of Medicine

The Budget proposes to repeal a measure introduced in 2007 to encourage corporate donations of medicine out of inventory. Prior to Budget Day, corporations that made “eligible medical gifts” to registered charities were entitled an additional special deduction over and...

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New National Housing Strategy

The Budget proposes a number of affordable housing initiatives with a combined investment of $11.2 billion over an 11-year period as part of a new National Housing Strategy.  The proposed investment represents a significant increase over Budget 2016’s commitment of...

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Electronic Distribution of T4 Information Slips

Currently, issuers of T4 information slips must provide two copies of the slips to each employee or worker to whom they relate.  These slips must be delivered to the taxpayer or sent to the taxpayer’s last known address.  Copies of...

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First-Time Donor’s Super Credit will Expire after 2017

The Budget confirms that the so-called first-time donor’s super credit will expire at the end of 2017. The super credit was introduced in the 2013 federal budget, and provides for an additional 25% tax credit for the first $1000 donated...

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Creation of a Canada Cultural Spaces Fund

The Budget indicated that the Federal Government will be creating a new Canada Cultural Spaces Fund towards which it will contribute $300 million over the next 10 years for the purpose of developing Canadian talent and entrepreneurialism in the arts...

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Creation of Innovation Superclusters

The Budget indicates that the Federal Government is proposing to launch a competition to create “innovation superclusters” that will have access to significant government funding to develop innovations in various areas including clean technology and health/bio sciences.  While this appears...

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Gender Statement

The Federal Government has committed in the 2016 Fall Economic Statement to publish a gender based analysis (“GBA”) of new budgetary measures in Budget 2017 and all future budgets.  The final chapter of the Budget is Budget 2017’s Gender Statement. ...

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