The House of Commons Standing Committee on Finance announced on December 15, 2011 that it will launch a study to examine tax measures to encourage charitable giving. The Committee will hold hearings in 2012 to review current and proposed individual and corporate tax measures, including the charitable tax credit and the possible extension of the capital gains exemption to donations of private company shares and real estate. The study will also focus on the feasibility and cost of changes to existing tax measures as well as the implementation of new tax incentives.
Budget 2011 included a commitment for the Government to ask the Standing Committee on Finance to undertake the study. The request stems from the unanimous House passing on March 2, 2011 of Private Members Motion 559, introduced by Peter Braid, Member of Parliament for Kitchener-Waterloo.