CNW Group

CNW Group: "Attention Business, National And Political Editors:
AFP Applauds Call for Tax Reductions for Canadian Nonprofits


OTTAWA, Canada, Jan. 19 /CNW/ -- In the past few days, both theConservative and Liberal parties announced that they would bolster charitable giving by eliminating capital gains taxes on certain gifts to charities. The Association of Fundraising Professionals (AFP) applauds this move that would remove a longstanding roadblock that has hindered Canadians from giving to the
voluntary sector.
The Conservative party proposed eliminating the capital gains tax on listed stock donated to charities. The Liberal party measure would eliminate the capital gains tax on ecologically sensitive land and on gifts of publicly traded shares to public charities.
In its brief to the Standing Committee on Finance during the 2005 pre- budget consultations, AFP urged the federal government to eliminate the capital gains tax on gifts of appreciated assets (including but not limited to securities, and real estate) to charities, including private foundations."