Pressure from charities prompts feds to ease proposed tax on wealthy Canadians in Budget 2024
One expert says the proposed change to Alternative Minimum Tax largely alleviates the sectorโs concerns, while charity advocacy association Imagine Canada says issues remain.
Why It Matters
Canada's wealthiest make up a large share of the total donations to the charitable sector. Last year, the government proposed reducing donation tax incentives for wealthy Canadians. Many charities petitioned the government to reverse the course, fearing a drop in donations.
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