Finance committee  Hello. I represent the Canadian Association of Gift Planners. I am accompanied by our Executive Director, Diane MacDonald. We have over 1,000 members. Our expertise is in the area of planned giving and legislation respecting planned giving. I am the Executive Director of the Je

Finance committee  The second issue is valuation. By using cash as the king of what happens, that alleviates much of the valuation issues, because it's easy to value cash at the end of the day. I thank you very much for giving me the ability to come here and speak. It's a great honour to be here.

Finance committee  We don't have the exact figures. Let's just break it down to see what it really is. It's a 10% added bonus, right? So they would be entitled to the normal credits that they would get. We're talking about a 10% bonus. We're not talking about wealth. For people who've donated more

Finance committee  We've tried in our organization and in our sister organizations to bring young people together, to provide them with the tools to actually give. We provide them with some dollars. They have to contribute some and we provide some. We give them an opportunity to make donations and

Finance committee  Well, it's a long—

Finance committee  The kids are excited about it. They're having fun.

Finance committee  They love the program. The parents love the program. Will this mean something 10 years from now? I hope so.

Finance committee  When you talk about fraud evaluations, if you saw where they've come from.... In a sense, it's been from tax shelters. It never made sense; the values weren't there. You were valuing air. Here you're not talking about air; you're talking about cash coming in at the end of the da

Finance committee  Right. So you get a valuation, which can be difficult, but we're talking about a capital gain exemption based on cash. If you're going to give that capital gain exemption—they don't have to give it, you're not entitled to it automatically—you have five years to cash that asset, a

Finance committee  The Canadian Association of Gift Planners is an association of individuals who either work for charities or are allied professionals. They could work for insurance firms, brokerage houses, trying to look at planned giving as a way of...or stimulating planned giving in Canada.

Finance committee  There are over a thousand members.

Finance committee  Just when you're asking about a potpourri of ideas, I saw in one of the papers that someone put in a proposal that you allow 1% of total revenue for foreign donations. Foreign donations are very difficult today. There used to be a time, going back historically in Canada, that y

Finance committee  Look, for Canada's future, I think it has to be the credit system. I like it. We're going backwards in terms of donors, so we have to do something. But they are two different gifts. We talked before about replacing things. There are income gifts and there are capital gifts. Whe

Finance committee  That's an income gift. If you're looking at capital, removing people's capital balance sheet gift—

Finance committee  I said credit.