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ARTICLE · 03 JULY 2015

Measures Pertaining To Charities

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The 2015 Federal Budget, tabled by Finance Minister Joe Oliver, contains a few measures aimed at supporting charities.

CanadaCorporate/Commercial Law
Matthew Tolan
Matthew Tolan
Jeffrey Read
Jeffrey Read
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The 2015 Federal Budget, tabled by Finance Minister Joe Oliver, contains a few measures aimed at supporting charities. Specifically, Budget 2015 proposed measures that  allow charities to diversity their investments by permitting them to invest in limited partnerships;  provide a capital gains tax exemption for the donation of proceeds from the disposition of private corporation shares and real estate; and allow Foreign Charitable Foundations, in certain circumstances, to be registered as "qualified donees".

Investments By Registered Charities In Limited Partnerships

Budget 2015 implemented a long-awaited measure whereby a registered charity will no longer be considered to be "carrying on a business" solely because it acquires or holds an interest in a limited partnership. Registered charities designated as charitable organizations or public foundations are prohibited from "carrying on a business" unless that business qualifies as a "related business",

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