NEW

Giving Back

Royalene Reed became a single mother to four young children after her divorce in the mid-1980s. Cheerful and outgoing today, she recalls with painful clarity her shame, loneliness and helplessness after losing her entire support system when she chose to end her...

When You Can’t Take It With You

Anthea Law Stevenson, Vogel & Company LLP For the past three years, I have enjoyed presenting at the annual Leave a Legacy event on estate planning, wills, probate, and executor’s duties. These presentations have allowed me to share legal information with members...

Founding professor leaves lasting legacy

Helen Stadelbauer was instrumental in shaping the University of Calgary Art Department. A strong believer in housing developmental art, studio art and art history under one department, She was a founding member of the art department and a staunch supporter throughout...

Imagine Canada Pleased With Federal Budget Measures Relating To Charities

Ottawa, February 11, 2014 – Imagine Canada, the national umbrella for Canadian charities, is pleased with a number of measures announced in today’s federal budget. The budget emphasizes the federal government’s belief “that the charitable sector plays an...

Bequests

The most common type of legacy gift is a charitable bequest or gift by Will. This may be a cash donation or even a gift of property such as real estate, a work of art or publicly listed securities. A bequest to a charity is very easy to put in place and can be...

Securities

A gift of securities provides an innovative and creative way to make a charitable gift and can include stocks, bonds and mutual funds. Federal incentives introduced in early 2006 have made it very attractive to donate publicly listed securities that have appreciated...

Life insurance

A gift of life insurance is made when you name a charitable organization as the beneficiary of the policy. This means that the charity would receive the insurance proceeds when you pass on.There are a number of ways to make a gift to charity through life insurance....

Annuities

A gift of annuity is made when you make a contribution of cash or other property to a charitable organization in exchange for a guaranteed lifetime income (or for a stated interval of time). It is an agreement or contract between you and your charity. Upon death, the...

Charitable remainder trusts

A gift of trust is made when you decide to make a charitable organization the secondary beneficiary to an irrevocable trust. The primary beneficiary (or the income beneficiary) includes you, and if applicable, your spouse. Throughout your lifetime, or for a stated...

Hello world!

Welcome to WordPress. This is your first post. Edit or delete it, then start writing!

Ottawa, February 11, 2014 – Imagine Canada, the national umbrella for Canadian charities, is pleased with a number of measures announced in today’s federal budget. The budget emphasizes the federal government’s belief “that the charitable sector plays an essential and irreplaceable role in our society by providing valuable services to Canadians, including to those most in need,” and proposes a number of initiatives that will benefit charities.

“We are very pleased that the federal government is expanding eligibility to Mitacs programs for charities and nonprofits, providing access to highly-skilled graduate and postgraduate students and researchers,” said Imagine Canada President and CEO Marcel Lauzière. “This was our top recommendation during pre-budget consultations and will help charities benefit from cutting-edge talent and create greater awareness among young Canadians of career opportunities in the sector.”

The budget announced a number of measures that respond to some of the key recommendations made during the Finance Committee’s hearings on Incentives for Charitable Giving, and subsequent proposals made by Imagine Canada and other charities. These measures, which will reduce administrative costs and burdens for charities while encouraging increased giving, include:

  • electronic filing of registration information and annual financial returns;
  • reforming the Criminal Code to allow charities to use computer technology to run lotteries, saving millions of
    dollars a year in administrative costs;
  • doubling the period during which tax credits for the donation of ecologically sensitive lands can be used by donors; and,
  • greater clarity and flexibility for trustees of estates to maximize charitable donations from those estates.
    The budget does not impose any new requirements or restrictions on political activities carried out by charities.

The budget includes a proposed measure to restrict charities from accepting donations from foreign governments (or agencies thereof) identified as sponsors of terrorism, and we have confirmed that this will not impose any new administrative requirements or costs.

“Today’s budget does recognize the vital role played by charities in Canadian society. We see this as setting the stage for further investment by the federal government once the budget is balanced,” said Lauzière. “A number of sensible, low cost reforms announced today will help to reduce red tape and administrative costs for charities. Progress has been made on a number of the recommendations made by the Commons Finance Committee regarding charitable giving, and we look forward to action next year on the most important investment identified by charities, the Stretch Tax Credit for Charitable Giving.

Imagine Canada also looks forward to contributing to the ongoing consultations with the nonprofit and private sectors announced in the budget to explore the potential for social finance initiatives to generate more capital for social investment and innovation.

The budget proposes consultations regarding the tax status and transparency of nonprofit corporations. While registered charities and registered Canadian amateur athletic associations are not a subject of the discussion, Imagine Canada will want to closely monitor these consultations to ensure that nonprofits’ ability to access resources and conduct their work effectively is not negatively affected.

Imagine Canada is a national charitable organization whose cause is Canada’s charities and nonprofits. We support and strengthen charities and nonprofits so they can, in turn, support the Canadians and communities they serve.
www.imaginecanada.ca

For further information:

Marnie Grona [English media] Director, Marketing & Communications
mgrona@imaginecanada.ca
1.800.263.1178 or 416.597.2293 x244

Amanda Mayer [French media] Imagine Canada – Ottawa
amayer@imaginecanada.ca
1.800.821.8814 or 613.238.7555 x239