Disbursement quota hike to 5 per cent given royal assent, now law

Beginning in 2023, foundations with assets of more than $1 million will need to boost the amount they give to charity

Why It Matters

The disbursement quota governs the amount of money foundations must spend on charitable activities and flow to communities each year. The raise in the rate will mean more money for community service organizations moving forward.

(Photo: Eric Mclean/Unsplash)

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For a cohort of philanthropic sector advocates, the holiday season just got a little brighter. 

Last Thursday, the Fall Economic Statement Implementation Act, 2022 was given royal assent, making law, a change promised in Federal Budget 2022, to raise the disbursement quota for large charities and foundations. 

The change introduces a

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