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Opinion

Charitable giving in the age of digital currency

By Tanya Woods      

Modernizing the Income Tax Act to support digital currencies is becoming increasingly important in a space where traditional charitable donations are stagnating.

In the last session, the Senate’s special committee on the charitable sector acknowledged that Canada must keep pace with technological development on fundraising disruptors like digital currencies. Photo by Kat Yukawa on Unsplash

Charitable donors across the country are used to receiving a tax credit from Ottawa on donations made to any of Canada’s registered charities or other qualified organizations. Since 1930, Canadian taxpayers have received a tax credit of 15 per cent on the first $200 they donate, and 29 per cent for eligible amounts over $200. It’s a tradition that covers assets ranging from cash and securities to gifts of ecologically sensitive land. So, now that digital currency is becoming more prevalent, with more than five per cent of Canadians holding Bitcoin, according to the Bank of Canada, why don’t donors of digital assets receive the same treatment? 

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Don’t piss on our shoes and tell us Black lives matter

Opinion|By Erica Ifill
Unless Trudeau plans to be out on these streets, fighting against police brutality or in cabinet drafting legislation to curb police powers, his, and all the other white voices of his ilk, have no merit here.

Pandemic makes delayed MMIWG action plan more urgent, say Senators, advocates

Consultations are ‘dragging on,’ say some who argue COVID-19 shouldn’t be used as an excuse for slow work and bad communication from the Liberals.

House suspension deal offers ‘insufficient’ scrutiny of feds’ spending amid COVID, say politicos

Four hours to study $87-billion in government spending is inadequate, says Liberal MP John McKay, calling it ‘short-term gain for a long-term pain.’

Parliamentary association chair defends Canada-China group as critics call for its suspension

News|By Neil Moss
'I think we do need to review the activities of the legislative association,' says Conservative MP and vice-chair Michael Cooper.

Team Lewis ‘punching above’ its weight in race for CPC leadership

‘Dr. Lewis has surprised many by getting this far,’ says campaign manager Steve Outhouse. ‘We’re looking to continue to surprise people right up to the end.’

Observers lament ‘sobering’ Torstar sale as new owners pledge to uphold ‘progressive nature’ of Canada’s largest newspaper

News|By Mike Lapointe
MPs, former Star journalists, and Torstar's soon-to-be new owners weigh in on the sale of Canada's largest daily newspaper, and what it says about progressive journalism in Canada.

Some MPs express concern over looming changes to disclosure of travel expenses

News|By Palak Mangat
'We saw this during the last election, where members and their designated travellers were singled out, targeted, and exploited for partisan gain,' says Conservative Whip Mark Strahl.

Canada should re-examine U.S. relations, ‘pursue its own future’ in face of Trump’s pandemic response, say foreign policy and trade experts

‘America is putting itself first, which is natural. Why shouldn’t we behave in the same way?’ says Carleton U’s David Carment. 

A fall federal election is ‘a real possibility,’ and a ‘sweet spot’ for Liberals to win a majority, say pollsters

News|By Abbas Rana
Liberal MPs have recently held discussions in caucus meetings about nomination rules for incumbent MPs for the next election, Liberal MP Ken Hardie confirmed to The Hill Times last week.
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