Today we bring to your attention recent legislative amendments to federal government policy that will adversely impact the operation of foundations and other charities across Canada to sustain the ancillary charitable support to the government and Canadians over the long term.
The federal government and the charitable sector generally work in concert to provide financial support and services to the community. However, recent changes introduced by the government through amendments to the Income Tax Act, detailed in the letter from the Jewish Foundation of Manitoba (JFM) Click Here to read the full letter, significantly increase complexities to the operation of The JFM and other foundations and charities. Rather than working in concert, the federal government implemented these amendments even after receiving submissions from foundations and charities across Canada advocating alternative reasonable strategies to accomplish the government’s objectives.
We are calling on you to advocate in Parliament for the following amendments to ensure the sustainability of the charitable sector over the long term:
- Decrease the minimum distribution rate back to 3.5%.
- Increase to 100% (from 50%) of the charitable donation tax credit for the purposes of the Alternative Minimum Tax calculation (AMT).
- Decrease to 0% (from 30%) the capital gains inclusion of gifts of publicly traded securities for the purposes of the AMT.
Your support makes a significant difference in addressing these critical issues affecting the charitable organizations that you care about.
Please contact your MP, and if you require further information, don't hesitate to reach out to us.
Thank you!
Click the email address to send our message to your Member of Parliment.
Please Click Here to read the full letter