Election Finance Tax Credits

Whereas the Canada Revenue Agency cites the Income Tax Act for the deduction from tax otherwise payable of a portion of the total eligible amount of monetary contributions to a registered party, a provincial division of a registered party, a registered association, or a candidate, as those terms are defined in the Canada Elections Act. The maximum annual tax credit an eligible individual may claim is 650 Contributions to a Registered Party, a Registered Association or to a Candidates in a federal election; And whereas Political Contributions Regulations in BCs Income Tax Act allows for eligible individuals to make contributions to BC political parties, registered BC constituency associations andor candidates in a provincial election. Eligible individuals may claim credit on a T1 income tax return calculated as the lesser of 75 percent of contributions up to 100 or 50 percent of contributions between 100 and550 or 33 13 percent of contributions in excess of 550; And whereas Bill 15, Local Elections Campaign Financing Amendment Act, 2017 received Royal Assent on November 30, 2017, resulting in many changes to the financing provisions of the Local Elections Campaign Financing Act. The rules applied to the 2018 General Local Elections and are retroactive to October 31, 2017. In local election in BC, an eligible individual may contribute up to 1,200 per year per campaign to an unendorsed candidate or 1,200 in total to each campaign of an elector organization and its endorsed candidates: Therefore be it resolved that UBCM request the Province support personal income tax credits, for contributions made in compliance with the BC Local Elections Campaign Financing Act, as is similar to the rules and requirements in BCs Income Tax Act, for personal income tax credits for provincial political contributions; And be it further resolved that UBCM request the provincial government make necessary amendments to BCs Income Tax Act to allow eligible individuals to claim credit on a T1 income tax return for political contributions made in accordance to the BC Local Elections Campaign Financing Act.