Yesterday, newly minted Finance and Intergovernmental affairs Minister Dominic LeBlanc, as well as with Élisabeth Brière, Minister of National Revenue, announced that the federal government plans to change the Income Tax Act to extend the deadline for making donations eligible for tax receipts in the 2024 tax year, until February 28, 2025.
In a press release the government said that there are many charities that help out Canadians in need.
“Registered charities play an important role in our society and provide valuable services to Canadians—especially the most vulnerable among us,” Brière said. “The Government of Canada is dedicated to the strength and vitality of charities, as we know these organizations are important to the social fabric of Canada and the well-being of Canadians.”
Many of these organizations’ end of year fundraising campaigns were affected by the shutdown of Canada Post.
“Charities are at the heart of communities across Canada, lending a helping hand to those in need. This extension recognizes the impact that the Canada Post service disruption had on their fundraising campaigns, and will give charities additional time to receive and process donations so that they can continue their vital work,” LeBlanc added.
The government will introduce legislation affecting these changes once Parliament returns in the new year, Parliament is expected to resume on January 27, 2025.
