Stretch Tax Credit – Where are We Now?

November 7, 2014 – In January 2012, the Performing Arts Alliance submitted a brief to the Standing Committee on Finance in support of Imagine Canada's proposed Stretch Tax Credit to increase charitable giving in the performing arts. More than two years later, this recommendation is still making headway.

In February 2013, a full year after the submission of our brief, the Finance Committee released its report on Tax Incentives for Charitable Giving in Canada. This report echoed our brief and recommended "subject to the government's stated intention to balance the budget in the medium term, that the federal government explore the feasibility and cost of adopting a stretch tax credit."

With a balanced now in sight for 2015, the time could be ripe for the introduction of the Stretch Tax Credit. CAPACOA once again supported the Stretch Tax Credit in its last pre-budget brief, and Imagine Canada is running a campaign to reach as many MPs as possible before the end of the pre-budget consultations, in mid-December.

If you have any opportunity to talk to your MP or if you want to send them an email or a tweet, check Imagine Canada's toolkit and call to action.

It's time to stretch


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