Yesterday, on April 28, 2025, we had the Canadian Federal election. While it is clear that the Liberals won the election, it is still not clear exactly how many seats they will have. Whatever the exact numbers, it is quite a change from what was expected, even only a few months ago, when the Conservatives were looking at a landslide for themselves.
With a minority government, or even if a slim majority, there is not a lot of stability, and therefore, another election is more likely than this government serving the full 4-year term.
Some of the questions non-profits and charities may be asking:
- How will this new government deal with the US, which will have a huge impact on Canada and the NPO and charitable sector?
- Will there be further transparency of NPOS as was proposed in the 2024 Fall Economic Statement, or in addition to that?
- Will there be changes to the regulation of registered charities?
- With the fiscal difficulties, will there be limits on some of the more lucrative donation tax benefits that are enjoyed by a small number of HNW people?
- How will the Federal government deal with the FATF evaluation of Canada?
- Will the Liberal government make any big departures from the previous Liberal government, for example, in terms of funding?
- Who will be taking over some of the important portfolios, such as Finance, CRA, HRSDC, etc.