In Response to Proposed Changes to the AMT
In Budget 2023, the government of Canada proposed 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.
An initial letter signed by Business / Arts and 30+ arts and cultural organizations was sent to the Prime Minister, Deputy Prime Minister and Minister of Finance on September 8, 2023. Download the first letter here.
A second letter was signed and sent to the Prime Minister, Deputy Prime Minister and Minister of Finance on February 26, 2024. Download the second letter here.
Imagine Canada is also inviting Canadians to submit letters of support and has provided an easy template to participate.
Submit a letter in English here Pour déposer une lettre en français
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
