[News] Update on the extension of the deadline for making 2024 charitable donations

On December 30, 2024, the Department of Finance announced the federal government’s intention to amend the Income Tax Act to extend the deadline for making charitable donations eligible for tax support in the 2024 tax year. Following this, on January 23, 2025, the Department of Finance announced that it had released draft legislation in support of this proposed change, which will be introduced in Parliament in due course. For more information, visit Draft legislative proposals and explanatory notes related to the Income Tax Act (Charitable donations). To help provide certainty as we head into tax season, the Canada Revenue Agency (CRA) is confirming that it will proceed with administering the 2024 deadline extension for charitable donations. The CRA is administering this proposed legislation, consistent with its long-standing practice.

More information here.