moved for leave to introduce Bill C-274, An Act to amend the Income Tax Act (tax credit for gifts).
Mr. Speaker, this bill would amend the Income Tax Act and provide for greater donations and return for those individuals who give to the not for profit sector, charities, organizations and groups. In particular, the proposed bill mirrors the political system, where for the first $1,275 that a person gives, charities will be able to issue a greater tax break back to the middle and lower income earners, who will get a better return. It treats the system fairly.
This is a significant change that would help the industry. The charitable industry sector is around 8% of the Canadian economy. It employs two million people in great causes, everything from seniors to children, universities and colleges. I would request that all members support this bill. It is important for economic stimuli. It is ironic that the last two budgets passed by this Parliament, the Conservatives actually reduced the amount of charitable tax one gets back as an individual Canadian citizen.
(Motions deemed adopted, bill read the first time and printed)