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The Tax Credit System: Blessing or Burden?

D A Walden-1984-01-01-Archivaria (Association of Canadian Archivists)
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TL;DRAbstract

When in 1930 William Euler, the Minister of National Revenue, acceded to the demands of the Leader of the Opposition, R.B. Bennett, to extend income tax exemptions in the Income War Tax Act to include gifts to charitable organizations, he could scarcely have imagined the enduring significance of his acquiescence.The amendment proposed by Bennett sought to remove the discrimination against "deserving institutions" which was implicit in restricting tax exemptions to donations to schools, hospitals, universities, and churches, by broadening that section of the act to include such federated charities as the Red Cross

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When in 1930 William Euler, the Minister of National Revenue, acceded to the demands of the Leader of the Opposition, R.B. Bennett, to extend income tax exemptions in the Income War Tax Act to include gifts to charitable organizations, he could scarcely have imagined the enduring significance of his acquiescence.The amendment proposed by Bennett sought to remove the discrimination against "deserving institutions" which was implicit in restricting tax exemptions to donations to schools, hospitals, universities, and churches, by broadening that section of the act to include such federated charities as the Red Cross

Keywords

BlessingBusinessTax creditFinancial systemEconomicsPublic economicsGeographyArchaeology

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