Wednesday, November 2, 2011

Canada Mulls Tax Incentives for Charity

The Globe and Mail reports that Finance Minister Jim Flaherty has asked the Commons finance committee to study charitable donations incentives.  One such proposal would provide individual taxpayers “an exemption from capital gains tax if they donate shares in privately held corporations or real estate.”  According to the article, we should expect more proposals consistent with the theme of providing tax breaks for charity:

The Harper government has plans to overhaul the way it finances charities and non-profit organizations. While the first steps will be small, the government’s ultimate goal is a shift in public expectations as to the role of government in assisting social causes.

Policies being considered include new tax rules to allow charities and non-profits to raise money through side businesses, boosting personal tax credits for charitable giving, and other incentives. ...


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