The Canadian federal government has proposed an extension for claiming charitable donations on 2024 tax returns, moving the deadline to the end of February. This initiative aims to alleviate the impact of a month-long Canada Post strike that significantly reduced donations to charities.
Charities across British Columbia have expressed support for this proposal, as many experienced a decline in contributions due to the disruption in postal services. Cindy Walker, philanthropy manager at Abbotsford's Archway Community Services, noted a 25% drop in donations during the critical November and December period, traditionally accounting for 40% of their annual donations.
Nationally, the Salvation Army reported a more than 50% decrease in holiday donations. Walker emphasized the importance of the extension, stating, "To have an option to invest in community and bettering the well-being of others is such an amazing opportunity for us to have." The proposed extension, however, is contingent on legislation passing in the House of Commons, where uncertainty remains regarding the Liberal minority government's stability.
In a separate development, a new law in Canada provides a tax holiday on qualifying items such as groceries and children's clothing for two months, aimed at assisting those struggling with rising living costs. While some critics argue that the measure is misguided, many consumers and restaurant owners hope it will stimulate spending. Sok, an Ottawa restaurateur, remarked, "It seems like it's making a difference... I think it will cause more of a snowball effect and create a general feeling for people that it's OK to eat out again." Restaurants Canada reported that over half of the restaurant companies in Canada are currently operating at a loss or barely breaking even, indicating a challenging landscape for the industry.