CCVO News

Stretch Tax Credit for Charitable Giving proposed

Imagine Canada has taken the lead in encouraging the Federal Government to introduce a “Stretch Tax Credit for Charitable Giving” as part of the budget to be released in March 2010. CCVO supports this proposal and encourages other charities to consider offering their support as well.

The proposed Stretch Tax Credit for Charitable Giving is designed to have a stimulative effect. Unlike an across- the-board increase, it encourages donors to increase giving year over year, thus creating new charitable giving, as seen in this Alberta example.  

In CCVO’s recent report on our latest economic impact survey, Stretched to the Limit, Alberta’s voluntary sector reported continued erosion from all revenue streams and more than 60% reported increased service demand and operating costs. With the real force of the economic recession expected to hit the voluntary sector this year, the Stretch Tax Credit would offer an immediate boost to struggling charities, in addition to supporting a long term strategy to strengthen Canada’s charitable donor base.

Charities can support the Stretch Tax Credit by writing to their Members of Parliament and to the Minister of Finance. Click here to view a sample letter that you can modify for your MP.

For more information about the Stretch Tax Credit proposal, visit www.stretchtax.imaginecanada.ca.  If you have questions or feedback, please contact Laura MacKinnon, CCVO Policy Analyst, at 403-261-6655 ext 228.