The federal authorities is extending the deadline for making charitable donations that may be claimed on tax returns by means of to the top of February, the Division of Finance introduced in a press launch Monday.
“The federal authorities intends to amend the Revenue Tax Act to increase the deadline for making donations eligible for tax assist within the 2024 tax yr, till February 28, 2025,” the press launch mentioned.
The division mentioned this was being carried out to “mitigate the impacts of the four-week Canada Put up mail stoppage by offering donors with ample time to make sure their contributions are acquired and processed, serving to charities guarantee they will ship important providers to the communities that depend upon them.”
The assertion mentioned the federal government will introduce laws within the new yr.
“This extension acknowledges the influence that the Canada Put up service disruption had on their (charities) fundraising campaigns, and can give charities extra time to obtain and course of donations in order that they will proceed their important work,” Finance Minister Dominic LeBlanc mentioned in an announcement.
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The announcement comes simply days after Canada’s premiers known as on the federal authorities to increase the deadline.
Ontario Premier Doug Ford made the request in a letter to Prime Minister Justin Trudeau final week, despatched in his capability as chair of the Council of the Federation.
Ford mentioned the premiers are echoing calls from charities to assist account for a decline in mail-in donations because of the Canada Put up strike, which introduced letter mail to a standstill for a month beginning in mid-November.
The Salvation Military reported final week that vacation donations had fallen by 50 per cent this yr, which it attributes to the strike.
–with recordsdata from The Canadian Press
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