Government Launches Consultation on Key Budget 2023 Priorities
Jun 2023 Charity & NFP Law Update
Published on June 29, 2023
On June 6, 2023, the Government of Canada announced that it will be consulting Canadians on some of the measures introduced in the 2023 annual budget. Budget 2023 was introduced in March of this year (as discussed in Charity & NFP Law Bulletin No. 521). Canadians will be able to share their opinions on budgetary measures as Ottawa gears up to the implementation stage of these projects. The issues which the consultation is to focus on include “Growing the Clean Economy”, “Ensuring Fair Opportunities for Canadian Workers with Federal Reciprocal Procurement”, “Reforming and Modernizing Canada’s Transfer Pricing Rules”, “Consolidating Canada Mortgage Bonds”, and (most importantly to the charity sector) “Combatting Money Laundering and Terrorist Financing”. In this regard, Ottawa is seeking feedback on its plans to strengthen the Anti-Money Laundering and Terrorist Financing (“AML/ATF”) Regime. Canadians will be able to share their views and concerns regarding the strengthening of the AML/ATF Regime, investigation/prosecution, information sharing, closing of regulatory gaps, and the role of the AML/ATF Regime in protecting national and economic security. To help Canadians understand the proposed changes to this complicated area of law, the government has provided a “consultation document” which explains the proposed changes. Those wishing to provide their feedback on the proposed changes to the AML/ATF Regime may do so by submitting comments to fcs-scf@fin.gc.ca. The subject line of the email should read “Consultation Submission” and the form should be submitted by August 1, 2023. Feedback will be used in Parliament’s review of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Those wishing to provide feedback on other areas may view the announcement to find the corresponding email address to send their feedback. |