Bill323 Sample Letter
Dear YOUR MP,
I am writing to express our support for the financial measures for Canada’s historic places included in Private Member’s Bill C-323, An Act to Amend the Income Tax Act (Rehabilitation of Historic Property) tabled on December 1, 2016.
The measures included in Bill C-323 are inspired by the successful, long-running US Federal Historic Tax Credit Program. This program has seen $23.1 billion in federal credits generate more than $28.1 billion in additional federal tax revenue and leverage over $120.8 billion in private investment – a 5 to 1 ratio of private investment to tax credits. Funded projects have in turn created 2.4 million jobs, preserved 41,254 historic properties, and created over 525,000 housing units, including 27% for low/moderate income families.
In Canada, the measures included in Bill C-323 have the potential to achieve the same success, broadly affecting homeowners and the development/construction industry, and positively impacting the economy, job creation and carbon reduction.
Bill C-323 includes the creation of:
- A 20% tax credit on eligible costs for rehabilitation work done to designated historic places (commercial & owner-occupied residential);
- An accelerated Capital Cost Allowance (25%/50%/25%) for eligible capitalized costs incurred under the same conditions of the tax credit (commercial only).
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. Examples in your area include:
1. (INSERT NAMES AND LOCATIONS OF BUILDINGS IN YOUR MP’S RIDING THAT COULD BENEFIT FROM THE NEW TAX CREDIT.)
2. There are many examples of the significant financial and environmental impact of heritage conservation:
- Studies show building rehabilitation generates upwards of 21% more jobs, including skilled jobs, than the same investment in new construction;
- The Commercial Heritage Properties Incentive Fund (CHPIF), a Canada-wide pilot program (2003 - 2008), was designed to test the benefit of a heritage tax credit. The results were impressive: federal contributions of $21.5 million supporting 49 projects leveraged over 8 times more in private sector investment ($177.2 million); and
- Building renewal and re-use capitalizes on materials and energy already invested, reduces construction and demolition waste, and avoids environmental impact associated with new development. A recent study shows that it takes from 10 to 80 years for a new “green” building to make up for the negative climate change impacts of its construction.
As the significant impact of this Bill will be felt in our own community, as well as nationally, I urge you to support for the measures included in Bill C-323.
Thank you for your consideration of this important issue.
The Hon. William Francis Morneau, Minister of Finance firstname.lastname@example.org
The Hon. Peter Van Loan MP (York –Simcoe) email@example.com
Natalie Bull, Executive Director, National Trust for Canada firstname.lastname@example.org
Your local and provincial heritage organizations
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