Senator Omidvar: Thank you, Senator Gold. I’m told that Finance has its own in-house calculations about the amount at play. We have an estimate of 30% of $11.4 billion. Maybe the government’s estimate is different. I would ask you to please share those calculations with us.

Hon. Ratna Omidvar: Senator Gold, I don’t need to tell anyone in the chamber — or you — how charities have suffered during COVID and post-COVID. Donations are down, while service demands are up, and now they are facing the negative tail end of the alternative minimum tax, which was in Budget 2023. According to a report by the Canadian Association of Gift Planners, they estimate that as much as 30% of the $11.4 billion that is given to charities annually could be tied up in these changes. That’s not chump change. That’s a lot of money, Senator Gold.

I don’t disagree with the principle of the alternative minimum tax. Canadians, whether they are wealthy or not, should pay their fair share, but this should not come at a cost to Canadian charities. Will the government remove the provisions impacting charities?