Today the Federal government released its budget. There were a few items that will impact charities and non-profits in Canada. Here are the actual provisions in the 2015 Federal budget that impact charities.
Here are some of the highlights of the budget:
- Canadian charities will be able to invest in limited partnerships
- There will be a capital gains exemption for those who donate private company shares or real estate when items are sold and the proceeds donated to charity within 30 days, starting in 2017.
- The Federal government will allocate $6 million over the next five years to help Canadians access “safe, reliable and lower-cost remittance services.”
- Under the heading “Gifts to Foreign Charitable Foundations” the government is going to tweak the category of qualified donees so that foreign foundations that receive a gift from the Canadian government can also be added to the list, not just groups that are “charitable organizations”.