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 sector’s 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.

In Budget 2024, the federal government proposed a compromise with the charitable sector around a previous promise to reduce donation tax incentives for wealthy Canadians. 

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