{"id":34106,"date":"2022-03-04T12:06:24","date_gmt":"2022-03-04T17:06:24","guid":{"rendered":"https:\/\/www.cccc.org\/news_blogs\/?p=34106"},"modified":"2022-03-04T12:06:28","modified_gmt":"2022-03-04T17:06:28","slug":"private-shares-real-estate-donations-changes-proposed-by-bill-c-240","status":"publish","type":"post","link":"https:\/\/www.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/","title":{"rendered":"Private Shares, Real Estate &#038; Donations: Changes Proposed by Bill C-240"},"content":{"rendered":"\n<p>Last month, Bill C-240 was <a href=\"https:\/\/www.ourcommons.ca\/DocumentViewer\/en\/44-1\/house\/sitting-25\/hansard\" target=\"_blank\" rel=\"noreferrer noopener\">introduced in the House of Commons<\/a>. Also known as the <a href=\"https:\/\/www.parl.ca\/DocumentViewer\/en\/44-1\/bill\/C-240\/first-reading\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Supporting Canadian Charities Act<\/em><\/a><em>, <\/em>this private member\u2019s bill would amend the <em><a href=\"http:\/\/canlii.ca\/t\/54v4b\" target=\"_blank\" rel=\"noreferrer noopener\">Income Tax Act<\/a><\/em> to waive capital gains tax on the arm\u2019s-length sale of private shares or real estate when the proceeds of the sale are donated to a charity.<\/p>\n\n\n\n<p>Capital gains tax would be reduced to zero if listed conditions are met. Some of those conditions include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>that the gift is made within 30 days after the disposition<\/li><li>that any advantage received is accounted for<\/li><li>that the purchaser is at arm\u2019s length to both the taxpayer and the charity<\/li><\/ul>\n\n\n\n<p>This is the second time this bill has been introduced. In November 2020, it\u2019s predecessor <a href=\"https:\/\/www.parl.ca\/legisinfo\/en\/bill\/43-2\/c-256\" target=\"_blank\" rel=\"noreferrer noopener\">Bill C-256<\/a> was introduced but when the election was called, the bill died. <a href=\"https:\/\/fin.canada.ca\/drleg-apl\/2015\/ita-lir-0715-l-eng.html\" target=\"_blank\" rel=\"noreferrer noopener\">Similar legislation<\/a> was also introduced in 2015 but was never enacted.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Senate Report<\/h2>\n\n\n\n<p>The Senate Report on the charitable sector, <a href=\"https:\/\/sencanada.ca\/content\/sen\/committee\/421\/CSSB\/Reports\/CSSB_Report_Final_e.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Catalyst for Change<\/a>, dedicates an entire section to this topic. It outlines the potential advantages and disadvantages to eliminating capital gains tax on donations of the proceeds from private company share and real estate sales.<\/p>\n\n\n\n<p>Advantages and disadvantages are listed together and include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>increased funding for the sector<\/li><li>equity between entrepreneurs (those who keep companies private versus those who take them public)<\/li><li>equity among charities (there was debate amongst the witnesses on the breadth of benefit that would result),<\/li><li>taxpayer equity (with debate about whether it would disproportionately benefit wealthier donors and the advantages of voluntary wealth redistribution)<\/li><li>cost to the federal government (estimated amount of charitable donation tax credit that would result is $65-70 million)<\/li><\/ul>\n\n\n\n<p>In the end, the committee recommended that Canada Revenue Agency launch a pilot project to evaluate the impact on the charitable sector of exemptions donations of private shares from capital gains tax.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Potential Impact of C-240<\/h2>\n\n\n\n<p>Bill C-240 moves forward with a similar proposal but avoids the difficulties of in-kind donations and valuation by incentivizing the <em>proceeds<\/em> rather than the shares or property themselves.<\/p>\n\n\n\n<p>Whenever donations are incentivized, proper safeguards need to be in place to prevent manipulation and abuse, but when those are in place, expanding sources of donations for charities is good news for the sector.<\/p>\n\n\n\n<p>Charities add to the richness and strength of our nation and positively impact local communities where we live, learn, worship, and serve.&nbsp; Healthy charities help create strong civil societies. CCCC is generally supportive of policies like this one that promote greater civic engagement by encouraging charitable donations, especially in light of lingering pandemic-related challenges.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">CCCC Community Trust Fund Can Help with Publicly-Traded Securities<\/h2>\n\n\n\n<p>In the meantime, you might be wondering about whether you can donate publicly-traded securities. The answer is a big yes! And we can help you donate through our <a href=\"https:\/\/www.cccc.org\/ctf\" target=\"_blank\" rel=\"noreferrer noopener\">CCCC Community Trust Fund<\/a>.<\/p>\n\n\n\n<p>Not all charities have the necessary set-up to receive your donated securities, but that\u2019s where CCCC can help. From the enhanced tax benefits of donating securities (no capital gains tax!) to the practical matters of valuation, receipting and accounting, we\u2019ve got answers for <a href=\"https:\/\/www.cccc.org\/cccc-ctf-donor\" target=\"_blank\" rel=\"noreferrer noopener\">donors<\/a> and <a href=\"https:\/\/www.cccc.org\/cccc-ctf-fundraiser\" target=\"_blank\" rel=\"noreferrer noopener\">fundraisers<\/a>. It\u2019s all on our Community Trust Fund page. And if you can\u2019t find what you\u2019re looking for we invite you to reach out to us directly at&nbsp;<a href=\"mailto:%20ctf@cccc.org\">ctf@cccc.org<\/a>&nbsp;or 519-669-5137.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last month, Bill C-240 was introduced in the House of Commons. Also known as the Supporting Canadian Charities Act, this private member\u2019s bill would amend the Income Tax Act to waive capital gains tax on the arm\u2019s-length sale of private shares or real estate when the proceeds of the sale&#8230; <a href=\"https:\/\/www.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/\" class=\"linkbutton\">More<\/a><\/p>\n","protected":false},"author":10,"featured_media":34111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ts_fic_featured_image_caption":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[159],"tags":[273,162,204,497,408,284,658],"series":[],"class_list":["post-34106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charity-law-and-policy","tag-charitable-donations","tag-charitable-fundraising","tag-charity","tag-federal","tag-income-tax-act","tag-legislation","tag-securities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Private Shares, Real Estate &amp; Donations: Changes Proposed by Bill C-240 - CCCC Blogs<\/title>\n<meta name=\"description\" content=\"Bill C-240 would waive capital gains tax on the sale of private shares or real estate when the proceeds are donated to charity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private Shares, Real Estate &amp; Donations: Changes Proposed by Bill C-240 - CCCC Blogs\" \/>\n<meta property=\"og:description\" content=\"Bill C-240 would waive capital gains tax on the sale of private shares or real estate when the proceeds are donated to charity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/\" \/>\n<meta property=\"og:site_name\" content=\"CCCC Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CCCCCharities\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-04T17:06:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-04T17:06:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/mail.cccc.org\/news_blogs\/wp-content\/uploads\/2022\/03\/shares-1.png?fit=300%2C300&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Deina Warren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cccccharities\" \/>\n<meta name=\"twitter:site\" content=\"@cccccharities\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Deina Warren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/\"},\"author\":{\"name\":\"Deina Warren\",\"@id\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/#\\\/schema\\\/person\\\/ebdf91372c7d841de19e5a1eb3344c97\"},\"headline\":\"Private Shares, Real Estate &#038; Donations: Changes Proposed by Bill C-240\",\"datePublished\":\"2022-03-04T17:06:24+00:00\",\"dateModified\":\"2022-03-04T17:06:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/\"},\"wordCount\":560,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/www.cccc.org\\\/news_blogs\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/shares-1.png?fit=300%2C300&ssl=1\",\"keywords\":[\"charitable donations\",\"charitable fundraising\",\"Charity\",\"Federal\",\"Income Tax Act\",\"Legislation\",\"Securities\"],\"articleSection\":[\"Charity law and policy\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/\",\"url\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/\",\"name\":\"Private Shares, Real Estate & Donations: Changes Proposed by Bill C-240 - CCCC Blogs\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/www.cccc.org\\\/news_blogs\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/shares-1.png?fit=300%2C300&ssl=1\",\"datePublished\":\"2022-03-04T17:06:24+00:00\",\"dateModified\":\"2022-03-04T17:06:28+00:00\",\"description\":\"Bill C-240 would waive capital gains tax on the sale of private shares or real estate when the proceeds are donated to charity.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/#primaryimage\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/www.cccc.org\\\/news_blogs\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/shares-1.png?fit=300%2C300&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/www.cccc.org\\\/news_blogs\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/shares-1.png?fit=300%2C300&ssl=1\",\"width\":300,\"height\":300},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/mail.cccc.org\\\/news_blogs\\\/legal\\\/2022\\\/03\\\/04\\\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Private Shares, Real Estate &#038; Donations: Changes Proposed by Bill C-240\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/#website\",\"url\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/\",\"name\":\"CCCC News &amp; Blogs\",\"description\":\"CCCC Blogs\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/#organization\",\"name\":\"Canadian Centre for Christian Charities\",\"url\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/www.cccc.org\\\/news_blogs\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/260wbRGB.png?fit=260%2C260&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/www.cccc.org\\\/news_blogs\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/260wbRGB.png?fit=260%2C260&ssl=1\",\"width\":260,\"height\":260,\"caption\":\"Canadian Centre for Christian Charities\"},\"image\":{\"@id\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/CCCCCharities\",\"https:\\\/\\\/x.com\\\/cccccharities\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/canadian-council-of-christian-charities\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/#\\\/schema\\\/person\\\/ebdf91372c7d841de19e5a1eb3344c97\",\"name\":\"Deina Warren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/2fffd55f4003e713f308c93fe98b05eb4c7911940d0e4a7e183cd3456e4c9356?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/2fffd55f4003e713f308c93fe98b05eb4c7911940d0e4a7e183cd3456e4c9356?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/2fffd55f4003e713f308c93fe98b05eb4c7911940d0e4a7e183cd3456e4c9356?s=96&d=mm&r=g\",\"caption\":\"Deina Warren\"},\"description\":\"The content provided in this blog is for general information purposes and does not constitute legal or professional advice. Every organization\u2019s circumstances are unique. Before acting on the basis of information contained in this blog, readers should consult with a qualified lawyer for advice specific to their situation.\",\"sameAs\":[\"https:\\\/\\\/www.cccc.org\",\"simone.waller@cccc.org\"],\"url\":\"https:\\\/\\\/www.cccc.org\\\/news_blogs\\\/author\\\/legal\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Private Shares, Real Estate & Donations: Changes Proposed by Bill C-240 - CCCC Blogs","description":"Bill C-240 would waive capital gains tax on the sale of private shares or real estate when the proceeds are donated to charity.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/","og_locale":"en_US","og_type":"article","og_title":"Private Shares, Real Estate & Donations: Changes Proposed by Bill C-240 - CCCC Blogs","og_description":"Bill C-240 would waive capital gains tax on the sale of private shares or real estate when the proceeds are donated to charity.","og_url":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/","og_site_name":"CCCC Blogs","article_publisher":"https:\/\/www.facebook.com\/CCCCCharities","article_published_time":"2022-03-04T17:06:24+00:00","article_modified_time":"2022-03-04T17:06:28+00:00","og_image":[{"width":300,"height":300,"url":"https:\/\/i0.wp.com\/mail.cccc.org\/news_blogs\/wp-content\/uploads\/2022\/03\/shares-1.png?fit=300%2C300&ssl=1","type":"image\/png"}],"author":"Deina Warren","twitter_card":"summary_large_image","twitter_creator":"@cccccharities","twitter_site":"@cccccharities","twitter_misc":{"Written by":"Deina Warren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/#article","isPartOf":{"@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/"},"author":{"name":"Deina Warren","@id":"https:\/\/www.cccc.org\/news_blogs\/#\/schema\/person\/ebdf91372c7d841de19e5a1eb3344c97"},"headline":"Private Shares, Real Estate &#038; Donations: Changes Proposed by Bill C-240","datePublished":"2022-03-04T17:06:24+00:00","dateModified":"2022-03-04T17:06:28+00:00","mainEntityOfPage":{"@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/"},"wordCount":560,"commentCount":0,"publisher":{"@id":"https:\/\/www.cccc.org\/news_blogs\/#organization"},"image":{"@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2022\/03\/shares-1.png?fit=300%2C300&ssl=1","keywords":["charitable donations","charitable fundraising","Charity","Federal","Income Tax Act","Legislation","Securities"],"articleSection":["Charity law and policy"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/","url":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/","name":"Private Shares, Real Estate & Donations: Changes Proposed by Bill C-240 - CCCC Blogs","isPartOf":{"@id":"https:\/\/www.cccc.org\/news_blogs\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/#primaryimage"},"image":{"@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2022\/03\/shares-1.png?fit=300%2C300&ssl=1","datePublished":"2022-03-04T17:06:24+00:00","dateModified":"2022-03-04T17:06:28+00:00","description":"Bill C-240 would waive capital gains tax on the sale of private shares or real estate when the proceeds are donated to charity.","breadcrumb":{"@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/#primaryimage","url":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2022\/03\/shares-1.png?fit=300%2C300&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2022\/03\/shares-1.png?fit=300%2C300&ssl=1","width":300,"height":300},{"@type":"BreadcrumbList","@id":"https:\/\/mail.cccc.org\/news_blogs\/legal\/2022\/03\/04\/private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.cccc.org\/news_blogs\/"},{"@type":"ListItem","position":2,"name":"Private Shares, Real Estate &#038; Donations: Changes Proposed by Bill C-240"}]},{"@type":"WebSite","@id":"https:\/\/www.cccc.org\/news_blogs\/#website","url":"https:\/\/www.cccc.org\/news_blogs\/","name":"CCCC News &amp; Blogs","description":"CCCC Blogs","publisher":{"@id":"https:\/\/www.cccc.org\/news_blogs\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.cccc.org\/news_blogs\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":"Organization","@id":"https:\/\/www.cccc.org\/news_blogs\/#organization","name":"Canadian Centre for Christian Charities","url":"https:\/\/www.cccc.org\/news_blogs\/","logo":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.cccc.org\/news_blogs\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2020\/10\/260wbRGB.png?fit=260%2C260&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2020\/10\/260wbRGB.png?fit=260%2C260&ssl=1","width":260,"height":260,"caption":"Canadian Centre for Christian Charities"},"image":{"@id":"https:\/\/www.cccc.org\/news_blogs\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/CCCCCharities","https:\/\/x.com\/cccccharities","https:\/\/www.linkedin.com\/company\/canadian-council-of-christian-charities"]},{"@type":"Person","@id":"https:\/\/www.cccc.org\/news_blogs\/#\/schema\/person\/ebdf91372c7d841de19e5a1eb3344c97","name":"Deina Warren","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/secure.gravatar.com\/avatar\/2fffd55f4003e713f308c93fe98b05eb4c7911940d0e4a7e183cd3456e4c9356?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/2fffd55f4003e713f308c93fe98b05eb4c7911940d0e4a7e183cd3456e4c9356?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2fffd55f4003e713f308c93fe98b05eb4c7911940d0e4a7e183cd3456e4c9356?s=96&d=mm&r=g","caption":"Deina Warren"},"description":"The content provided in this blog is for general information purposes and does not constitute legal or professional advice. Every organization\u2019s circumstances are unique. Before acting on the basis of information contained in this blog, readers should consult with a qualified lawyer for advice specific to their situation.","sameAs":["https:\/\/www.cccc.org","simone.waller@cccc.org"],"url":"https:\/\/www.cccc.org\/news_blogs\/author\/legal\/"}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2022\/03\/shares-1.png?fit=300%2C300&ssl=1","jetpack-related-posts":[{"id":34450,"url":"https:\/\/www.cccc.org\/news_blogs\/legal\/2022\/06\/15\/update-on-private-shares-real-estate-donations-changes-proposed-by-bill-c-240\/","url_meta":{"origin":34106,"position":0},"title":"UPDATE on Private Shares, Real Estate &#038; Donations: Changes Proposed by Bill C-240","author":"Deina Warren","date":"June 15, 2022","format":false,"excerpt":"Earlier this year we let you know about Bill C-240, the Supporting Canadian Charities Act. Bill C-240 was voted down at second reading. This private member\u2019s bill would have amended the Income Tax Act to waive capital gains tax on the arm\u2019s-length sale of private shares or real estate when\u2026","rel":"","context":"In &quot;Charity law and policy&quot;","block_context":{"text":"Charity law and policy","link":"https:\/\/www.cccc.org\/news_blogs\/category\/charity-law-and-policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2022\/06\/blog-images-1.png?fit=300%2C300&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":30600,"url":"https:\/\/www.cccc.org\/news_blogs\/legal\/2021\/01\/11\/bill-c-256-donating-proceeds-from-sale-of-real-estate-or-private-shares\/","url_meta":{"origin":34106,"position":1},"title":"Bill C-256: Donating Proceeds from Sale of Real Estate or Private Shares","author":"Deina Warren","date":"January 11, 2021","format":false,"excerpt":"Bill C-256 proposes to provide capital gain exemptions for the sale of real estate or private corporate shares when the proceeds are donated to charity. Introduced to Parliament in late 2020, the private member\u2019s bill would amend the Income Tax Act to reduce capital gains tax to zero if listed\u2026","rel":"","context":"In &quot;Income Tax Act&quot;","block_context":{"text":"Income Tax Act","link":"https:\/\/www.cccc.org\/news_blogs\/category\/income-tax-act\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2021\/01\/2.png?fit=600%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2021\/01\/2.png?fit=600%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2021\/01\/2.png?fit=600%2C600&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":18563,"url":"https:\/\/www.cccc.org\/news_blogs\/legal\/2015\/04\/21\/charity-highlights-of-budget-2015\/","url_meta":{"origin":34106,"position":2},"title":"Charity Highlights of Budget 2015","author":"Deina Warren","date":"April 21, 2015","format":false,"excerpt":"There are three items affecting charities in the 2015 Federal Budget tabled in the House of Commons by the Hon. Joe Oliver, the Minister of Finance, on April 21, 2015: donations of private corporation shares and real estate; investments by registered charities in limited partnerships; and gifts to foreign charitable\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19405,"url":"https:\/\/www.cccc.org\/news_blogs\/legal\/2015\/09\/09\/implementation-of-budget-2015-an-update\/","url_meta":{"origin":34106,"position":3},"title":"Implementation of Budget 2015 &#8211; An Update","author":"Deina Warren","date":"September 9, 2015","format":false,"excerpt":"Authored by Nevena Urosevic, Associate Director of Legal Affairs Noteworthy\u2019s blog post titled Charity Highlights of Budget 2015 outlined and explained the three proposed changes to charity law found in Budget 2015. They are: Capital gains tax exemptions for donations of proceeds from the sale of private shares and real\u2026","rel":"","context":"In &quot;Charity law and policy&quot;","block_context":{"text":"Charity law and policy","link":"https:\/\/www.cccc.org\/news_blogs\/category\/charity-law-and-policy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38728,"url":"https:\/\/www.cccc.org\/news_blogs\/legal\/2025\/12\/04\/federal-budget-2025-follow-up\/","url_meta":{"origin":34106,"position":4},"title":"Federal Budget 2025: Follow Up","author":"Deina Warren","date":"December 4, 2025","format":false,"excerpt":"After the federal Budget is tabled and approved, legislation to implement the Budget follows. This is where we learn the specifics of how the government plans to move forward with its Budget proposals. Bill C-15, Budget 2025 Implementation Act, No. 1 includes some, but not all, items specific to charities\u2026","rel":"","context":"In \"charities\"","block_context":{"text":"charities","link":"https:\/\/www.cccc.org\/news_blogs\/tag\/charities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2025\/08\/LB-New-Blog-Post-Template-300-x-300-px-8.png?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2025\/08\/LB-New-Blog-Post-Template-300-x-300-px-8.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2025\/08\/LB-New-Blog-Post-Template-300-x-300-px-8.png?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2025\/08\/LB-New-Blog-Post-Template-300-x-300-px-8.png?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.cccc.org\/news_blogs\/wp-content\/uploads\/2025\/08\/LB-New-Blog-Post-Template-300-x-300-px-8.png?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":21738,"url":"https:\/\/www.cccc.org\/news_blogs\/legal\/2016\/03\/22\/charity-highlights-of-budget-2016\/","url_meta":{"origin":34106,"position":5},"title":"Charity Highlights of Budget 2016","author":"Deina Warren","date":"March 22, 2016","format":false,"excerpt":"The 2016 Federal Budget tabled in the House of Commons by the Hon. Bill Morneau has two references to charities. The first deals with the donations of real estate and shares of private corporations.\u00a0 The 2015 Budget proposed to provide, beginning in 2017, an income tax exemption for capital gains\u2026","rel":"","context":"In &quot;Charity law and policy&quot;","block_context":{"text":"Charity law and policy","link":"https:\/\/www.cccc.org\/news_blogs\/category\/charity-law-and-policy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p30X8p-8S6","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/posts\/34106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/comments?post=34106"}],"version-history":[{"count":0,"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/posts\/34106\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/media\/34111"}],"wp:attachment":[{"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/media?parent=34106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/categories?post=34106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/tags?post=34106"},{"taxonomy":"series","embeddable":true,"href":"https:\/\/www.cccc.org\/news_blogs\/wp-json\/wp\/v2\/series?post=34106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}