{"id":4331,"date":"2015-05-04T03:27:00","date_gmt":"2015-05-04T03:27:00","guid":{"rendered":"https:\/\/oafdn.ca\/?p=4331"},"modified":"2022-02-12T03:28:26","modified_gmt":"2022-02-12T03:28:26","slug":"2015-federal-budget-measures-affecting-charities","status":"publish","type":"post","link":"https:\/\/oafdn.ca\/fr\/2015-federal-budget-measures-affecting-charities\/","title":{"rendered":"2015 Federal Budget Measures Affecting Charities"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"4331\" class=\"elementor elementor-4331\" wpc-filter-elementor-widget=\"1\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c76c893 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c76c893\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e13e5ad\" data-id=\"e13e5ad\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fac201b elementor-widget elementor-widget-text-editor\" data-id=\"fac201b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><img fetchpriority=\"high\" decoding=\"async\" class=\"size-medium wp-image-4332 alignleft\" src=\"https:\/\/oafdn.ca\/wp-content\/uploads\/2022\/02\/gift-money-300x225.jpg\" alt=\"gift box with money cover\" width=\"300\" height=\"225\" srcset=\"https:\/\/oafdn.ca\/wp-content\/uploads\/2022\/02\/gift-money-300x225.jpg 300w, https:\/\/oafdn.ca\/wp-content\/uploads\/2022\/02\/gift-money-16x12.jpg 16w, https:\/\/oafdn.ca\/wp-content\/uploads\/2022\/02\/gift-money.jpg 620w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p><p><span class=\"plain_grey\">A measure Canadian charities have long lobbied for was recognized in the 2015 Federal Budget announcement on April 21st. An exemption from capital gains tax will be available to certain disposition\/sale of shares of private corporations and real estate. It will apply to dispositions made after 2016 and the tax exemption will apply to:<br \/><\/span><\/p><p>\u00a0<\/p><p>\u00a0<\/p><p>\u00a0<\/p><ul><li><span class=\"plain_grey\">The cash received from the disposition of shares of a private corporation or real estate where the proceeds are donated to a qualified charitable donee within 30 days of the sale transaction and the shares or property are sold to a buyer who deals at arms length with both donor and qualified charitable donee<br \/><br \/><\/span><\/li><li><span class=\"plain_grey\">The amount of the capital gain to be exempt from tax will be based by reference to the proportion of the cash donated to the total proceeds of sale ( i.e. not all of the proceeds are donated to the charity )<br \/><\/span><\/li><\/ul><p><span class=\"plain_grey\">This has long been sought for by Canada\u2019s large charities, but can benefit all charities where a donor wants to provide financial support, but a significant portion of their personal wealth is held within a private business.<br \/><br \/><\/span><\/p><p><strong><span class=\"blue\">Limited partnerships<span class=\"plain_grey\"><br \/><\/span><\/span><\/strong><span class=\"blue\"><span class=\"plain_grey\">A more \u2018technical\u2019 measure will now provide that a registered charity will not be considered to be carrying on business where it acquires or holds an interest in a limited partnership. This expands investment opportunities for charities, where the investment is intended to be a passive investment, and the charity does not hold more than 20% of the interests in the limited partnership, and the charity deals at arms length with the general partner.<br \/><\/span><\/span>\u00a0<\/p><p><span class=\"blue\"><strong>Canada 150 Community Infrastructure Program<\/strong><span class=\"plain_grey\"><br \/><\/span><\/span><span class=\"plain_grey\">A new program \u2013 the Canada 150 Community Infrastructure Program will provide funds to support the expansion and improvement of existing community infrastructure, which may provide towns and cities will resources to include cultural projects as well as those supporting tourism, sport and recreation. To help celebrate Canada\u2019s 150th anniversary, $210 million will be funded over 4 years to support community events to recognize this milestone in Canada\u2019s history. This funding has been much awaited by the arts sector and hopefully details arising from the budget will make clear how the funding can be put to work. Funds will be invested over 4 years, starting with $24 million (nationally) in 2015.<br \/><\/span><\/p><p><span class=\"plain_grey\">As always, the devil will be in the details of the budget measures and how this will be implemented.\u00a0<\/span><span class=\"plain_grey\">Happily there were no new measures adding compliance requirements to be imposed on charities.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>A measure Canadian charities have long lobbied for was recognized in the 2015 Federal Budget announcement on April 21st. An exemption from capital gains tax will be available to certain disposition\/sale of shares of private corporations and real estate. It will apply to dispositions made after 2016 and the tax exemption will apply to: \u00a0 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"give_campaign_id":0,"nf_dc_page":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[16],"tags":[],"class_list":["post-4331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>2015 Federal Budget Measures Affecting Charities - Ontario Arts Foundation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/oafdn.ca\/fr\/2015-federal-budget-measures-affecting-charities\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2015 Federal Budget Measures Affecting Charities - Ontario Arts Foundation\" \/>\n<meta property=\"og:description\" content=\"A measure Canadian charities have long lobbied for was recognized in the 2015 Federal Budget announcement on April 21st. 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