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Decentralized Democracy

House Hansard - 57

44th Parl. 1st Sess.
April 25, 2022 11:00AM
Context: House Hansard - 57 - Apr/25/22
Mr. Marty Morantz (Charleswood—St. James—Assiniboia—Headingley, CPC)
Mr. Speaker, I rise today in support of my private member's bill, Bill C-240, the supporting Canadian charities act. The pandemic has inflicted tremendous losses on charities and their ability to provide much-needed services to Canadians. The situation is bleak. Canada's 85,000 registered charities have lost billions of dollars during the pandemic, at a time when services are needed more than ever. Charities are now facing demands for their programs and services that currently exceed their capacity to deliver. Bill C-240 could help to solve this problem by amending the Income Tax Act to waive the capital gains tax on the proceeds from the arm's-length sale of privately owned shares or real estate when those proceeds are donated directly to a charity. This simple change to the Income Tax Act would raise over a billion dollars for charities over the next five years. When charities are hurting, people are hurting. Let us do something about it. I ask every member to support this bill. Working together, we can get the charitable sector back on its feet and Canadians back on theirs.
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