Finance committee  Based upon my understanding, they're roughly the same. I think the private company shared exemption would probably result in a larger proportion of incremental giving than the real estate section. In the case of real estate, there is that capital cost allowance recapture when the

Finance committee  Yes.

Finance committee  I think at the end of the day it really comes down to the donors. Where does the donors' interest lie, in which area of the charitable sector? Are they more interested in the environment and preserving the land they own for the future or are they more interested in making a donat

Finance committee  On the issue of the removal of the capital gains tax and all appreciated capital property, I think at the end of the day it really comes down to the donor: what is the donor's interest? If the donor is interested in the ecologically sensitive land, that's where they'll make the

Finance committee  First of all, the estimate of how much charitable giving would increase in the form of private company shares and real estate was based upon the U.S. experience. In the United States currently, gifts of appreciated capital property are exempt, which includes listed securities, pr

Finance committee  He's now a senior adviser to a law firm.

Finance committee  He provided assistance in analyzing the tax expenditure report.

Finance committee  The $1 billion is what has been given to charities in Canada—

Finance committee  —since 2006.

Finance committee  Well, the estimate that we give of the costs to the federal government being $50 million to $65 million per year includes the charitable donation tax credit for gifts from individuals. It includes the tax savings for corporations, but it also includes an estimate of the foregone

Finance committee  You prevent that from happening by saying that the charity cannot issue a tax receipt to the donor until the charity has received the cash for the sale of the asset. That's the real value.

Finance committee  I'd just like to add one other thing, since there's a lot of interest in United Way around here. I happen to have been a member of the major individual giving cabinet for Toronto United Way for the past 10 years, so I will give you an example in terms of how removing this tax bar

Finance committee  Yes, that is correct.

Finance committee  I think most of the gifts of land and real estate would be incremental to what the donor would normally be giving. If the donor's current capacity to give is his or her ability to donate cash, and they own a significant asset in the form of real estate, which has a low cost base,

Finance committee  You'd donate the cash within 30 days of having sold the asset.