ACO EXPRESSES SUPPORT FOR BILL C-323
Bill establishes tax credits for rehabilitation of historic properties
February 9, 2017
Architectural Conservancy Ontario has expressed its support for Private Member’s Bill C-323, An Act to Amend the Income Tax Act (Rehabilitation of Historic Property), which was introduced in Parliament on December 1, 2016. This bill, introduced by member Peter Van Loan, would amend the Income Tax Act to establish a tax credit for expenses related to the rehabilitation of a historic property. It also establishes a tax deduction for the capital cost of property used in the course of such a rehabilitation. It will receive second reading on February 10th.
ACO believes these two tax measures would transform the economic fundamentals for renewing historic places and would encourage building conservation of every size and type, from landmark commercial buildings to modest homes.
Catherine Nasmith’s letter to the Honourable William Morneau, Minister of Finance, is attached. We encourage our members to express their support for this bill, which, if passed, will encourage the preservation and restoration of heritage properties across Canada.
Type of News Item: outreach
Lttr - Hon W Morneau re Bill C323.pdf (Acrobat PDF file)