The 2014 Budget introduces a wide array of changes that will impact the Charitable and Not-for-Profit Sector.
These changes fall into several categories. Some are new measures to encourage donations and increase flexibility for donors in planning their charitable giving, while other measures are intended to reduce the administrative burden on charities. Finally, there are proposals intended to curb perceived abuse of charities by tax shelter promoters and terrorists. Somewhat surprisingly given recent statements made by the Minister of Finance, the Budget does not introduce new measures related to charities and their pursuit of political activities.
The Government also announced consultations on possible new ways to support social finance and on the tax rules related to non-profit organizations.