From The Heritage Trust:
Today, a Private Member’s Bill to create tax credits for rehabilitation of historic places was tabled in the House by Peter van Loan (Conservative critic for Canadian Heritage and National Historic Sites). Bill C-323 is designed to limit the destruction of Canada’s heritage buildings, and encourage rehabilitation of properties in the Canadian Register of Historic Places. For more information visit:
This is an idea that has had widespread support from heritage advocates, federal, provincial, territorial and municipal governments, and the Federation of Canadian Municipalities over the years. It’s exciting to see it tabled in the House and given first reading. We know that the tax system can be a powerful tool to stimulate private investment in heritage buildings. In the United States, the introduction of a 20 percent federal tax credit for rehabilitation of heritage buildings 40 years ago revolutionized the way developers think about old buildings and launched a booming and competitive preservation industry.