Thank you for appearing before the Committee today to present your views.
My first question is for Mr. Peacock, who is with the Association of Fundraising Professionals.
Earlier this week, representatives from Philanthropic Foundations Canada appeared before the Committee. I imagine that you work fairly closely with them. Indeed, my understanding is that you work for them. I would like to get some clarification with respect to your recommendations.
When they appeared before the Committee, their primary recommendation was abolition of the capital gains tax on publicly traded securities that take the form of donations to private foundations. They talked about applying the capital gains exemption to securities donated to private foundations.
However, you have talked about completely eliminating the capital gains tax on donations of both land and real property to charitable organizations.
Why this difference? Do you support their demands all the same?