moved for leave to introduce Bill C-474, an act to amend the Income Tax Act (percentage of gifts that may be deducted from tax).
Mr. Speaker, it is an honour to introduce in the House today my private member's bill to amend the Income Tax Act. It pertains specifically to the percentage of gifts that may be deducted from tax.
In federal law registered charities do not receive equal treatment with federal political parties. The majority of Canadians contribute an average of $239 annually. If those dollars go to charities, the donors receive a reduced rate of tax credit compared to federal political parties. This bill is about taking away political advantage for political donations.
To date I have received over 30,000 signatures in support of this and a strong contingent of support from thousands of charitable organizations across Canada. I urge all members to consider supporting this very worthy piece of legislation.
(Motions deemed adopted, bill read the first time and printed)