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e-4155 (Taxation)

E-petition
Initiated by Colin O'Leary from Kamloops, British Columbia

Original language of petition: English

Petition to the Government of Canada

Whereas:
  • Community Land Trusts exist across Canada, are a proven vehicle to combat the affordable housing crisis in perpetuity, but they are crippled by current Federal tax law in their ability to acquire land donations.
We, the undersigned, citizens and residents of Canada, call upon the Government of Canada to:
1. Make amendments and additions to the Income Tax Act to incentivize the donation of land to Land Trusts, for the purpose of developing affordable housing, by utilizing the same mechanisms as those already provided in the Act for individuals and corporations to make donations to ecological land reserves; and
2. Allow for donations of land to Community Land Trusts to be capital gains exempt in addition to a tax credit or deduction which can be provided in exchange for the land, based on the fair market value.
Open for signature
October 31, 2022, at 10:44 a.m. (EDT)
Closed for signature
February 28, 2023, at 10:44 a.m. (EDT)
Photo - Frank Caputo
Kamloops—Thompson—Cariboo
Conservative Caucus
British Columbia
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