Madam Speaker, the other day I had the opportunity to speak on a Reform amendment to this bill. I must admit my remarks were somewhat hurried and I was unable to review certain material before I was able to make those remarks.
Today, having had ample opportunity to reflect on the excellent material available in support of the bill put out by the office of the minister and the department, I want to again praise the minister for introducing Bill C-93. It is a very good bill. It has been earnestly sought after by members of the cultural community who appreciate the very significant donations made to galleries, museums, archives and libraries by donors who own valuable cultural treasures.
The department estimates that $60 million a year is donated to Canadian institutions. These very significant gifts are of possible tax benefit to the donor who may claim a deduction in respect to the value of the gift. I note the deduction that can be claimed in each case is only half the value. It is not the full value. It is substantially less than that. The part which is eligible as a tax credit therefore is much more modest than has been suggested in some of the remarks made by hon. members opposite.
Donors, museums, galleries and professional associations have lobbied for the right to appeal the determination made by the review board which currently makes determinations of value, and this bill gives that right. It is only fair, it is only just and I think the bill deserves the support of all hon. members, particularly when we look at the substantial value of the gifts made to these institutions. Without these kinds of gifts many of these institutions would not be able to acquire the very substantial works of art they now receive.
I submit this is a fair and reasonable way of proceeding and I urge all hon. members to support the bill in light of the facts and figures I have been able to bring to the attention of the House.