In the 2021 Federal Budget, it was announced that the Department of Finance will be doing a consultation on the disbursement quota and whether it should be raised. Interesting that the title used by Finance is “Consultation: Boosting charitable spending in our communities”.
charitable donation tax credits
Over a year ago then Finance Minister Jim Flaherty announced that there would be major changes in the way Canadians would be taxed at death. The new system created what was called a Graduated Rate Estate which, amongst other things, entitles the estate of a taxpayer to the graduated rates of tax which are applied to living taxpayers. After 36 months the estate, if not wound up by then, would be taxed at the highest marginal rates.