THA Supports Bill C-323 – Proposed Tax Credit for Conserving Canada’s Historic Places

THA Supports Bill C-323 – Proposed Tax Credit for Conserving Canada’s Historic Places

TORONTO – Taylor Hazell Architects (THA), one of Canada’s leading architecture, conservation and strategic planning practices, is pleased to welcome the introduction of Bill C-323: An Act to Amend the Income Tax Act (Rehabilitation of Historic Property) in the House of Commons.

Currently being considered by Members of Parliament, the proposed legislation aims to limit the destruction of Canada’s historic places by helping their owners to preserve, rehabilitate and restore sites and structures of cultural value. Based on one of the most effective federal programs in community revitalization in the United States, Bill C-323 would create a 20% tax credit for property owners on eligible costs, and would also create a tax mechanism that permits deducting capitalized costs so that up to the entire value of capital expenditures can be written-off over time.

The incentives of Bill C-323 would transform the way Canada cares for its built and cultural heritage, enabling Canadians to conserve our past while investing in a vibrant future for our historic places, said Jill Taylor, Principal at THA, who is a fellow of the Royal Architectural Institute of Canada, past chair of the Canadian Association of Heritage Professionals and past president of Ontario’s Conservation Review Board.

The incentives would be available to the more than 17,000 properties currently on Canada’s Register of Historic Places and for projects in accordance with the nationally-recognized Standards and Guidelines for the Conservation of Historic Places in Canada. The legislation builds on a Canadian pilot program from 2003-2008 that saw property values, occupancy and profits grow, and on the widespread success of similar incentives in the United States first implemented in the 1970s, involving some 41,000 projects and demonstrating a net-positive impact on government finances.

In order for this incentive to conserve Canada’s historic places to become law, Members of Parliament must vote for Bill C-323 in the House of Commons. THA encourages heritage practitioners, owners of historic properties, property developers, the construction industry, and all Canadians alike to contact their Member of Parliament by postage-free mail, email or telephone, and ask them to support this invaluable tool to conserve our shared built and cultural heritage.

Established more than 25 years ago, THA is an award-winning Toronto practice in architecture, conservation and strategic planning for historic sites and structures. Our clients include municipal, provincial and federal government sectors, and our portfolio of projects includes iconic properties and districts in Ontario, Manitoba, New Brunswick, Nova Scotia and Prince Edward Island. Our firm’s practitioners are actively involved in Canada’s heritage associations and institutions.

Letters to MPs can be sent postage-free to: House of Commons, Ottawa, ON K1A 0A6

For the full text of Bill C-323 visit here.