Summary
Bill C-364 is a private member’s bill that seeks to amend the Canada Elections Act by reducing annual individual political contribution limits while reintroducing public funding for registered political parties through quarterly allowances. There is also a consequential amendment to the Income Tax Act, impacting the amount individuals can claim as tax credits for political contributions.
PBO estimates that, in total, the cost to the federal government will be $45.2 million in 2018, increasing to $46.2 million in 2021. The reintroduction of a quarterly allowance, which is paid from the Consolidated Revenue Fund to registered political parties, represents the overwhelming majority of the cost.
This quarterly allowance significantly increases the funds available to registered political parties. While the Bill proposes reducing the maximum amounts individuals can contribute, it does not have a significant impact.
