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Tax Incentives to Encourage Greater Representation of Women in Senior Management Positions and on Boards 2021

  • RESET

Category:

LEGISLATION

Sub-Category:

Sub-Category: INCOME TAX ACT

Resolution Number:

600.50.50

Club:

Edmonton

Province:

Alberta

Year:

2021

Status:

Open

Background:

BACKGROUND:While women make up almost 50% of the Canadian labour force, they hold less than 20% of board directorships and less than 17% of executive officer positions in Canada. This is despite women
obtaining more than 50% of the Bachelor’s degrees and 50% of the Master’s degrees in Business,
Management and Public Administration.

The approach taken in Canada to date has been to adopt a “comply or explain” regime for publicly
listed entities. Since 2014, TSX listed corporations have had to disclose details about the
representation of women on boards and in senior management as well as details on written diversity
policies; however the total number of board seats held by women has only increased marginally and
the number of women in senior management positions has largely remained flat.

Internationally, Canada is behind many other jurisdictions such as the UK, Australia and US to name a
few.

Tax incentives have been successfully used by the Canadian government as a means of encouraging
action on the part of participants in the private sector. One of the most prominent examples is the
Scientific Research and Experimental Development (SR&ED) Program which uses tax incentives
(e.g., income tax deduction, an investment tax credit) to encourage Canadian businesses to
participate.

Comments:

THEREFORE BE IT RESOLVED that the Canadian Federation of Business and Professional Women
(BPW Canada) urges the Government of Canada, specifically the Minister of Finance, the Minister for
Women and Gender Equality and Youth, the Minister of Innovation, Science and Industry, and the
Minister of Housing and Diversity and Inclusion to implement a tax incentive for a five year period,
which can be claimed by public and private companies, if throughout a given taxation year, more than
35% of such company’s board members and senior officers are qualified women, and more than 21%
of such company’s board members and senior officers are qualified members of under-represented
groups, which equates to achieving 70% of the two goals set forth by the Canadian Government in its
50-30 Challenge;

FURTHER BE IT RESOLVED that BPW Canada urges the Government of Canada, specifically, the
Minister of Finance, the Minister for Women and Gender Equality and Youth, the Minister of
Innovation, Science and Industry, and the Minister of Housing and Diversity and Inclusion to publicly
announce the creation of this new tax incentive and to explain the reasons why it is important to offer
such an incentive.

©BPW Canada  www.bpwcanada.com

Article ID: 13343