2025 Pre-Budget Submission
At a time when Canadians are struggling under immense pressures, it is critical for our cultural sector to remain accessible, vibrant, and resilient. Now, more than ever, Canada needs to invest in policies that will stimulate a more sustainable arts, culture and heritage sector, while providing a profound return on investment to the Canadian economy and also contributing to the well-being of our society.
With the right skills, tools, and resources, Canada’s arts and culture sector can continue to create jobs, catalyze tourism, and drive economic growth across the country. Business / Arts urges the Government of Canada to recognize the power of partnership between the private and nonprofit sectors and to implement the following recommendations to help build a stronger, more resilient Canada.
Business / Arts has put forth the following recommendations
- Renew funding for artsvest, a national program founded in 2005 that currently provides skills training to more than 800 arts and culture organizations in 208 ridings across Canada.
- Stimulate philanthropic giving to arts and culture institutions across Canada by:
- Eliminating the capital gains tax on charitable donations of private company shares and real estate to registered charities, to encourage giving among high-net worth donors and corporations.
- Lower the current $200 tax credit threshold to expand the donor base and encourage giving among younger, less affluent donors.
- Permanently allocate at least 1% of government spending towards arts, culture, and heritage, including boosting the Canada Council for the Arts by $140 Million and Canadian Heritage by $190 Million, as recommended by the Canadian Arts Coalition.
