Canada:
2014 Federal Budget: Proposed Changes Affecting Charities and Not-for-Profit Organizations
15 February 2014
Borden Ladner Gervais LLP
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On February 11, 2014, the Honourable James Flaherty,
Minister of Finance, tabled Budget 2014. Amongst the new measures
proposed was an important change with respect to charitable
donations made by estates. The federal government also signalled
its intent to review the not-for-profit organization tax exemption
under paragraph 149(1)(l) of the Income Tax Act (Canada).
For more details on these and other measures affecting the
charities and not-for-profit sector, please see BLG's Budget
2014 bulletin, available here:
http://www.blg.com/en/NewsAndPublications/Documents/Publication_3670.pdf.
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