No New Donation Incentives

March 29, 2012

Unfortunately
for the sector, the Budget does not include any new measures to increase incentives
for charitable giving notwithstanding that the 2011 Federal Budget confirmed
that the Standing Committee on Finance study how current incentives for
charitable giving might be enhanced or improved.

The
Budget confirms that the Standing Committee on Finance is continuing its review
of charitable donation incentives.  Since
its request for submissions from the public in January 2012, it has received
numerous proposals for new measures to increase public giving.  These have included a charitable donation
stretch credit – in which increases in giving from year to year receive
increased tax recognition – as well as the extension of the exemption from
capital gains tax to donations of private company shares and real property.

These
measures, it appears, will need to wait until at least 2013.   We remain hopeful that the Standing
Committee will recommend at least some additional donation incentives and that
the Federal Government will include such measures in next year’s Budget.  We will continue to monitor developments in
this area.

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