Budget measures support Canada's communities

    OTTAWA, March 19 /CNW/ - Imagine Canada congratulates the Government of
Canada on the extension of the Capital Gains exemptions on gifts of stock to
private foundations and on the introduction of both the Working Income Tax
Benefit (WITB) and the Registered Disability Savings Plan (RDSP).

    -   The Capital Gains exemption on gifts of stock to private foundations
        comes into effect immediately and will encourage charitable giving
        and build on the success of the Budget 2006 measures providing
        exemptions on gifts of publicly-listed securities to registered

    -   WITB is a made-in-Canada version of the US Earned Income Tax Credit
        (EITC) which many in the sector feel has played a positive role in
        reducing poverty among the working poor. It will apply to the 2007
        tax year, with payments to beneficiaries starting in 2008.

    -   RDSPs will allow Canadians to shelter up to $200,000 from tax within
        a Registered Disability Savings Plan to finance care for a severely
        disabled family member.

    Imagine Canada was also pleased that the government re-stated its
commitment to reform current grant and contribution programs in accordance
with the report of the Blue Ribbon Panel. "We ask that the Government's
commitment to reducing the administrative and paper burden on small and medium
enterprises by 20% within specified time frames apply equally to small and
medium community nonprofit organizations," said Teri Kirk, Vice President of
Government Relations and Public Policy at Imagine Canada.
    Ms. Kirk also noted that Imagine Canada will be consulting with other
organizations and will provide further comment once the impact of these
measures is better understood.


    Canada's Community Nonprofit Sector
    Canada's economic activity is often divided into 3 broad sectors - the
Public Sector, the Business Sector, and the "third sector" which, in Canada,
is often refer to as  the "community nonprofit sector". Data demonstrates that
Canada has one of the largest and most vibrant community nonprofit sectors in
the world:
    -   $9 billion in donations; per year;
    -   2 billion volunteer hours;
    -   22 million donors;
    -   12 million volunteers;
    -   2 million fulltime equivalent workers;
    -   12% of the economically active population;
    -   approximately 870,000 unincorporated community organizations;
    -   81,000 nonprofit corporations;
    -   and 80,000 registered charities.

    Together this activity, not including volunteer hours, accounts for 7.1%
of GDP.

    Imagine Canada
    Imagine Canada is a national charity that looks into and out for Canada's
charitable and nonprofit sector. Our research and public policy facilitate
increased support, understanding and engagement; our tools and resources
strengthen the sector. Together they contribute to social progress and vibrant

For further information:

For further information: Lisa Hartford, Manager, Media Relations &
Communications, Imagine Canada, 425 University Avenue, Suite 900, Toronto, ON,
M5G 1T6, 1-800-263-1178 x 225, (416) 597-2293 x 225; Teri Kirk, Vice
President, Public Policy & Government Relations, Imagine Canada, Office: (613)
238-7555 x225, Toll Free: (800) 821-8814 x225, Mobile: (613) 798-6682

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Imagine Canada

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