Tory MP Ted Falk's Tax Bill Could Make Huge Difference For Charities
OTTAWA — Why do Canadian tax filers get a larger refund if they give to political parties than if they donate to charities?
Conservative MP Ted Falk can't think of a real explanation, and he's made it his mission to change what he calls an unfair and inequitable policy.
Conservative MP Ted Falk can't think of a real explanation, and he's made it his mission to change what he calls an unfair and inequitable policy.
The Manitoba MP introduced a private member's bill, C-239, last week that would make the 2015 taxation year the last one where Canadians are encouraged to give more to political parties than to charities who aim to feed the hungry, shelter the homeless, and heal the wounded.
While a $400 donation to a political party currently generates a 75 per cent federal tax credit, or $300 reduction, that same $400 donation to a charity only generates a federal return of $88 — 15 per cent tax credit on the first $200 and 29 per cent credit on the other $200.
While a $400 donation to a political party currently generates a 75 per cent federal tax credit, or $300 reduction, that same $400 donation to a charity only generates a federal return of $88 — 15 per cent tax credit on the first $200 and 29 per cent credit on the other $200.
The changes Falk introduced would give Canadians the same federal tax rebate.
"It shouldn't be any more important to feed a politician than it should be to feed someone that is hungry."
— Ted Falk
"The bill is all about bringing fairness to charitable donations relative to donations made to a political party or candidate," he told The Huffington Post Canada Monday. "It shouldn't be any more important to feed a politician than it should be to feed someone that is hungry."
Falk recently won the Commons' lottery by landing the first spot for private members' business. That means his bill, the Fairness in Charitable Gifts Act, will be the first one debated this year, probably in late March.
Falk recently won the Commons' lottery by landing the first spot for private members' business. That means his bill, the Fairness in Charitable Gifts Act, will be the first one debated this year, probably in late March.
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