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March 22, 2016, was Federal Budget day. The Budget contains relatively few tax measures specific to charities and non-profit organizations. Unfortunately, the most significant measure – the reversal of the previously-proposed capital gains exemption on the donation of proceeds of...
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No Capital Gains Exemption for Donations of Real Estate and Shares of Private Corporations Budget 2016 announces the Government’s intention to reverse proposals made in Budget 2015 with respect to donations of the cash proceeds from sales of real estate...
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The Budget proposes a new relieving measure related to the application of the sales tax regime (whether GST or HST depending on the province) to charitable donations. The measure will effectively apply the split-receipting regime that applies to charitable gifts...
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In his November 2015 Mandate Letter to the Minister of National Revenue, Diane Lebouthillier, Prime Minister Trudeau mandated her to work to « modernize » Canada’s charity law and clarify the rules in the Income Tax Act that deal with political activities. ...
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In December 2015, the Federal Government announced that it would increase the personal income tax rate for top earners in Canada, with corresponding changes to the charitable donation tax credit rates to introduce a top donation tax credit rate of...
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While the Budget contains relatively few tax measures specific to the charitable or non-profit sector, it does announce several initiatives and investments that will be of interest to certain organizations within the sector including: an investment of $339 million over...
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As part of the pre-Budget consultation process, Imagine Canada made a submission to the House of Commons Standing Committee on Finance which included a recommendation that the Government should establish a partnership with the charitable and non-profit sector to identify...
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The Budget proposed to invest an impressive $8.4 billion over five years to improve the socio-economic conditions of Canada’s Indigenous peoples. With a view to providing a better quality of life for Indigenous peoples and ensuring that their voices are...
