POLICY | CAGP Issues Strong Response to Proposed Changes to Tax Treatment of Major Gifts

publication date: Sep 19, 2023
author/source: Canadian Association of Gift Planners

The CAGP (Canadian Association of Gift Planners) community is gravely concerned that proposed changes to the Alternative Minimum Tax (AMT) treatment of major gifts will disincentivize high-value donations being made to Canadian charities.

Historically, these types of donations represent approximately 35% of the total dollar amount of charitable gifts. Therefore, CAGP feels it would not be unreasonable to suggest that as much as 1/3 of the $11.8 billion of annual charitable giving by Canadians will be negatively impacted.

Furthermore, the argument is made that the proposed changes also run counter to the longstanding policy of the Government of Canada to support the ongoing operations of charities and qualified donees through tax policy and legislative measures that encourage private philanthropy.

CAGP’s submission to the Department of Finance includes illustrations of how the proposed amendments will disincentivise large donations, and provides comments and recommendations as to how these proposed changes could be amended to mitigate the impact on charitable giving.

CAGP is inviting their members, partners, and all charities and stakeholders from the charitable sector to assist in amplifying their message and recommendations to the Department of Finance by adding your name to a letter of support for CAGP’s submission. CAGP members have been asked to provide details and an electronic signature by end of day on Thursday, September 21st.

Given this Hilborn Charity eNews article, CAGP has decided to extend that deadline until noon EDT on Monday, September 25th. Sign the letter of support using this link.

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