OTTAWA – Peter Braid, Member of Parliament for Kitchener–Waterloo, introduced a private member’s motion, M-559, in the House of Commons today seconded by Joe Preston, MP for Elgin-Middlesex- London.

M-559 asks the Standing Committee on Finance to review the charitable tax credit and the proposal to remove capital gains tax from donations of private company shares and real estate. If the motion passes, the resulting study could recommend changes that will benefit both charitable organizations and the donors who support them.

“Charitable organizations fulfill an important role in society,” said Braid. “It is vital that we all support this excellent work, and continue to invest in the strength of our communities. My motion focuses on ways to encourage increased giving through changes to current charitable tax regulations.”

“My community work in charitable and the not- for- profit segment taught me the hard work these organizations do” said Preston. “Anything we can do at the federal level to help make it easier allows more good action to reach our communities".

The Conservative Government has taken steps to enhance support for charities, including the elimination of capital gains tax on donations of publicly listed securities.

Donald K. Johnson, appointed as an Officer of the Order of Canada for his efforts to reform Canadian charitable tax law, is supportive of Braid’s motion. "The 50% reduction in the capital gains tax on gifts of listed securities in the 1997 budget and the elimination of the remaining capital gains tax in the 2006 budget has resulted in billions of dollars of incremental donations to charities across Canada,” said Mr. Johnson. “This demonstrates the tremendous power these types of measures have on unlocking more private wealth for public good. We are very grateful to Mr. Braid for his Private Member's Motion to instruct the House Finance Committee to study additional measures which will benefit charities in every constituency across Canada, including the United Way/Centraide, arts and cultural organizations, hospitals and universities."

Braid has received very positive feedback on his motion, and hopes to receive support from all parties. M-559 will have its first hour of debate today and the second hour and subsequent vote at a later date.