In the recently released 2022 federal budget, a seemingly small detail with no money attached to it was a very big deal in the charitable sector.
The Canadian government expressed support for amending the Income Tax Act (ITA) and “implement[ing] the spirit” of Bill S-216.
But what is Bill S-216? Future of Good explains what this bill is, and what the non-profit sector could look like if it is passed:
What is Bill S-216?
Ontario Senator Ratna Omidvar presented Bill S-216, or the Effective and Accountable Charities Act, in the Senate on November 22, 2021. It proposes amendments to the Income Tax Act on how a registered charity can use their financial resources.
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