In Response to Proposed Changes to the AMT
In Budget 2023, the government of Canada proposed some changes to the Alternative Minimum Tax (AMT) formula that will disincentivize donations to charitable organizations. Business / Arts and a number of Canadian cultural charities are endorsing Donald K. Johnson’s open letter submitted to Finance Canada urging immediate action on the proposed changes to the AMT.
Imagine Canada is also inviting Canadians to submit letters of support and has provided an easy template to participate.
Additional resources with further commentary on AMT:
- How changes to the proposed alternative minimum tax could affect charitable donations in the nonprofit sector – Imagine Canada
- Will Charities Suffer from the Proposed AMT Legislation? – Moodys Private Client
- New federal tax changes create major challenges for Canadian charities – Canada Gives