On August 9th, 2022, the Department of Finance Canada announced that it has published draft legislation (and explanatory notes) to implement Budget 2022 tax measures and amendments for comment.
Among the proposed amendments to the Income Tax Act are changes to the disbursement quota for registered charities and measures to increase transparency regarding the filing status of T3010s.
Here is our note titled “Finance Proposes Changes to Disbursement Quota for Charities and Some Increased Transparency,” which discusses the proposed changes to the Income Tax Act that will increase the disbursement quota and allow for some greater transparency on certain matters.