An article appeared in the Globe and Mail today by Rudy Mezzetta entitled “Prorogued Parliament complicates extension to charitable donation deadline”. In the article, it notes:
The federal government’s proposal to extend the charitable donation deadline to Feb. 28 gives Canadians an extra opportunity to lower their tax bill for 2024. But, as with many tax proposals, Prime Minister Justin Trudeau’s decision on Monday to prorogue Parliament has left taxpayers wondering whether they can rely on the measure. …
The Department of Finance didn’t provide more information about when it expects to release draft legislation to implement the change. However, in an e-mail to the Globe, a spokesperson confirmed that individuals making donations in January and February this year would be able to claim those donations on either their 2024 or 2025 tax returns (or in any of the following five taxation years).
The Canada Revenue Agency did not say if or when it was expecting to provide guidance to taxpayers on the proposed extension.”
I will be happier to hear this directly from CRA as they are actually the ones who enforce the Income Tax Act.
We have covered this topic in a number of recent blog posts: