An Act to amend the Income Tax Act (tax credit for gifts)

This bill was last introduced in the 43rd Parliament, 2nd Session, which ended in August 2021.

Sponsor

Brian Masse  NDP

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

Status

Introduced, as of June 22, 2021
(This bill did not become law.)

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

This enactment amends subsection 118.‍1(3) of the Income Tax Act to have the tax credit for charitable and other gifts computed in the same manner as the tax credit for monetary contributions to federal political parties and candidates, when the total amount of those gifts in a taxation year does not exceed $1,625. It also provides for a manner to compute the tax credit when the total amount exceeds $1,625.

Elsewhere

All sorts of information on this bill is available at LEGISinfo, provided by the Library of Parliament. You can also read the full text of the bill.

Income Tax ActRoutine Proceedings

June 22nd, 2021 / 10:15 a.m.
See context

NDP

Brian Masse NDP Windsor West, ON

moved for leave to introduce Bill C-321, An Act to amend the Income Tax Act (tax credit for gifts).

Mr. Speaker, I am pleased to reintroduce this bill. It is not often that the National Post actually endorses an NDP idea and bill. This bill would allow tax credits on donations to charities, similar to donations to political parties. This way, there actually would be more giving, and there would also be more tax revenue that would go back to the individual. Charities and not-for-profits have had difficulties and challenges with regard to donations. This bill would at least provide some revenue stream for them to help.

I will just say that this is very important, because right now we know, with COVID-19, those organizations have been really challenged. This would allow our donations to charities to replicate those to political parties. They would be capped, so there would not be an endless stream of money that we can get back, allowing for fairness for all Canadians.

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