OTTAWA - Bill C-470 seeks to bring reason and accountability to charity executive salaries. The Private Members Bill, authored by Mississauga East-Cooksville MP Albina Guarnieri, would require charities to disclose their five highest paid employees and their salaries. As well, if the Minister of National Revenue finds a charity to be paying its executives unjustified compensation in excess of $250,000, the Bill provides the capacity to deregister the charity

Albina Guarnieri described the purpose of her Bill: "Bill C-470 asserts the rights of donors and taxpayers to be treated with the same respect as shareholders by charities that rely entirely on their resources and generosity. Charities that pay the most to their top executives are also among those that deliver the smallest share of every donor dollar to the intended cause. I believe it is time that we insist that charities deliver more transparency and, ultimately, more charity".

The Bill has now been referred to the Standing Committee on Finance.