Impact Social

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April 21, 2015

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Amendments to Gifts to Foreign Charitable Foundations

The Budget proposes an amendment to expand the availability of “qualified donee” status to certain foreign charitable foundations.  Entities that are “qualified donees” are eligible to receive outright grants from registered Canadian charities and can issue official donation receipts for...

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Budget Announces Social Finance Accelerator Initiative

A little over two years ago, Human Resources and Skills Development Canada (now Employment and Social Development Canada (ESDC)) launched the Government of Canada’s inaugural Call for Concepts for Social Finance (the “Call”) at the Social Finance Forum in Toronto,...

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Other Measures

Cooperative and Non-Profit Social Housing The Budget proposes to provide support to affordable housing providers by eliminating mortgage prepayment penalties on long-term, non-renewable loans with the Canada Mortgage and Housing Corporation (CMHC).  This measure is intended to enable social housing...

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Reversal of New Change to Alberta Charitable Donations Tax Credit

Alberta Finance Minister Robin Campbell delivered his first budget on March 26, 2015.  A surprising change included in the budget was a reduction in the charitable donations tax credit (CDTC) provided by Alberta to individuals for donations over $200 annually....

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No Change on Graduated Rate Estates

As readers are no doubt aware, Budget 2014 introduced significant changes to the tax treatment of gifts made by Will or beneficiary designation.  As part of those changes, a new taxpayer, called the Graduated Rate Estate, was introduced.  In order...

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Introduction

April 21, 2015 was Federal Budget Day.  While the Budget did not contain extensive charity-related measures, it did include several changes that will be important to the sector.  These changes are generally positive and are focused on further encouraging charitable...

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Capital Gains Exemption Extended to Gifts of Private Shares and Real Estate

The Budget proposes to exempt from capital gains tax charitable gifts of cash proceeds from the disposition of private company shares and real estate to the extent the cash proceeds are gifted to charity.  This is a significant new donation...

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Budget Enables Investment in Limited Partnerships by Registered Charities

The Budget proposes a new measure that will increase the flexibility available to registered charities in structuring their investments. Under the current rules in the Act, registered charities are limited in their ability to pursue business activities.  Charitable organizations and...

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