Act to amend the Income Tax Act (donations involving private corporation shares or real estate)


Marty Morantz  Conservative

Introduced as a private member’s bill. (These don’t often become law.)


Second reading (House), as of May 31, 2021

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This enactment amends the Income Tax Act to provide an exemption from capital gains tax in respect of certain arm’s length dispositions of real estate or private corporation shares to charities.


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Income Tax ActRoutine Proceedings

November 26th, 2020 / 10:05 a.m.
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Marty Morantz Conservative Charleswood—St. James—Assiniboia—Headingley, MB

moved for leave to introduce Bill C-256, Act to amend the Income Tax Act (donations involving private corporation shares or real estate).

Mr. Speaker, I stand today proud to table my very first private member's bill. The bill would help charities across Canada access up to $200 million a year in additional donations.

Throughout the pandemic, charities have continued to step up and provide much-needed services to those in need, including food banks and homeless shelters. However, right now across Canada, donations are down and Canadian charities are struggling to raise much-needed funds during this pandemic.

The bill would help charities by waiving the capital gains tax on an arm's-length sale of private shares or real estate when the proceeds of that sale are donated to a charity. This change would allow these kinds of donations to receive tax treatment similar to what public shares currently receive when donated to a charity. This common-sense and much-needed legislation would help struggling charities and give Canadians greater opportunities to give back.

I hope all members in the House will support this timely and important bill.

(Motions deemed adopted, bill read the first time and printed)