Thank you for that.
I would like to broaden the question. Ms. Glover had a very relevant question: which is your priority? Is it the stretch tax credit? Is it the issue of capital gains?
One thing that struck me in the presentation done by the Ministry of Finance is the government assistance for capital gains donations as opposed to cash donations. It said that “46 per cent of the cost of cash donations” is paid for supported by government. When you take the exemption from the capital gains tax, “the rate of assistance” from government “on donations of listed securities is typically 60 per cent, and can be as high as 69 per cent”.
If we're talking about what your priorities are, certainly we all share the priority of increasing giving, presumably from as broad a population base as possible, but does it concern you as well that the capital gains contribution from government is so much higher than the cash benefit? Again, I'm going to get back to the stretch tax credit. A stretch tax credit would increase the support for cash donations, so it would help to rectify what seems to be an imbalance.
That's for anyone who chooses to answer.