On August 16, 2011, the Department of Finance released for consultation draft legislation to implement the proposed changes affecting charities and other qualified donees that were introduced in the 2011 federal Budget. We reported on these proposed changes in the March and June issues of this Newsletter.
The Department of Finance has invited submissions from interested parties commenting on the draft legislation. Public comments will be accepted until September 16, 2011. A link to the draft legislation is available here. Charities and advisors are encouraged to review the draft legislation carefully and to send comments to the Department of Finance by the September 16 deadline.