Federal Pre-Budget Recommendations Released
Last week, the federal Standing Committee on Finance issued its pre-budget recommendations, following cross-country consultations, and the review of many, many pre-budget briefs (including one each from Orchestras Canada and the Canadian Arts Coalition). Here’s a precis of the Committee’s recommendations, as they pertain to Canadian orchestras:
The report contains 47 recommendations.
Overall, the report focuses on keeping taxes low and spending under control.
Key areas for attention include Veterans Affairs and retirement and long-term care.
There are no explicit references to arts and culture in the report.
One of Orchestras Canada’s three pre-budget recommendations has been accepted by the Committee, however: the “Stretch” tax credit, long advocated by Imagine Canada as a strategy to encourage Canadians to increase their charitable giving year over year, was cited, with the recommendations “that the federal government continue building on successful initiatives that encourage charitable giving. In this regard, the government should explore measures that would prompt higher levels of charitable donations, such as a stretch tax.
For more on the Stretch Tax Credit, please visit imaginecanada.ca.