Canadians want to keep giving to get us through the challenges of today and the decades ahead. Let’s make it easier for Canadians to support the causes that matter to them the most! Imagine Canada proposes the Stretch Tax Credit for Charitable Giving, a new and simple tax incentive for all Canadians.

The purpose of the Stretch Tax Credit for Charitable Giving is to encourage more Canadians to give and to support those who do give to give more.

How it works: The Stretch Tax Credit for Charitable Giving would increase the federal charitable tax credit from 29% to 39% on all NEW giving that is over $200. This incentive will allow Canadians to “stretch” their giving even more.

Why we need it: Charities and nonprofits in every community work on behalf of Canadians to provide services and supports that contribute to quality of life and economic prosperity. We need to act now to renew and grow Canada’s charitable sector and donor base to ensure organizations working across the country and around the world can meet the changing needs and growing demands of the individuals, families and communities they serve.

House of Commons Standing Committee on Finance recommends the Stretch Tax Credit

On December 9 we received some great news! The House of Commons Standing Committee on Finance released their report (pgs 74 & 78 of PDF) recommending the implementation of the proposed Stretch Tax Credit. In the weeks to come, it is critical to maintain the momentum and visibility of the stretch tax credit proposal to increase the likelihood of its inclusion in the next federal budget.

Stretch Tax Credit in the Media

This innovative initiative has also generated interest in the media. Here is a selection of media coverage referring to the Stretch Tax Credit starting with the most recent:

• Tax incentives could reverse decline in charitable giving. Winnipeg Free Press opinion editorial. Dec 12, 09.
• Stretch Tax Credit TV interview with Michelle Gauthier, our Vice-president, Public Policy & Outreach with Kevin Gaudet from the Canadian Taxpayers Federation. CHCH News Hamilton Live at 5:30pm and News at 11, Nov 24, 09.
• Stretch Tax Credit TV interview with Michelle Gauthier our Vice-president, Public Policy & Outreach. CHCH News Live Hamilton, Nov 23, 09.
• Give, in the downturn. Globe & Mail opinion editorial. Nov 19, 09.
• Charities facing tough times. CBC News, Nov 16, 09.
• AFP’s Philanthropy in Action Globe & Mail insert. In this insert we shared with readers details on the proposed Stretch Tax Credit in an opinion editorial and advertisement made possible in part with the generous support of The Muttart Foundation.

Additional Resources on the Stretch Tax Credit for Charitable Giving

• Stretch Tax Credit Q&A: Answers to the most common questions on the Stretch Tax Credit with examples of how it will work.
• Pre-budget brief submitted by Imagine Canada to the House of Commons Standing Committee on Finance: Marcel Lauzière, President and CEO for Imagine Canada, appeared before the House of Commons Standing Committee on Finance on Thursday, October 8. In his presentation to the committee, Mr. Lauzière, reiterated Imagine Canada's three key recommendations for Budget 2010 as per the written brief submitted in mid-August.

Acknowledgements

The development of the Stretch Tax Credit for Charitable Giving proposal reflects the collaborative nature of the charitable and nonprofit sector. We would like to extend out gratitude to the many organizations and individuals who gave of their time and expertise to develop and refine the Stretch Tax Credit initiative. We also would like to acknowledge the efforts of partner organizations that have sought to promote and advance this proposal among their own networks and/or in their engagement with government, business and community stakeholders.

Comments or questions on the Stretch Tax Credit for Charitable Giving proposal can be sent to the attention of Michelle Gauthier, Vice-President, Public Policy and Outreach via email at mgauthier@imaginecanada.ca