January 17, 2012 - "Charitable donations ... may become ever more important, ensuring both the continued strength of the performing arts sector, and the continued access of Canadians to arts and culture through performances and festivals."
On behalf of the Performing Arts Alliance, CAPACOA prepared and submitted a brief to the House of Commons Standing Committee on Finance in response to a study of tax incentives for charitable giving. This brief expresses concerns over the erosion of the donor base, presents a statistical outlook of performing arts charities, and expresses support to two recommendations:
- Establish a “stretch” tax credit that would increase the federal charitable tax credit by an additional 10% on all new giving up to $10,000; and,
- Extend capital gains exemptions to donations of real estate and private company shares.
CAPACOA will also soon submit a brief to the Canada Revenue Agency, in response to its proposed Guidance on Arts Organizations and Charitable Organizations.
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