QUEEN’S PARK — The NDP is calling on Revenue Canada to review Charles McVety’s Canada Christian College (CCC) charitable tax status in light of information about the college’s finances. Documents included in a submission show that that the College loaned McVety and his son $860,000 for homes and vehicles.
“Charles McVety should never be granted an even larger platform to spew his bigotry and hate towards the 2SLGBTQIA+ communities and Muslim Ontarians, but the revelation that he and his son have also borrowed hundreds of thousands of dollars for themselves from the college reeks of something very wrong with the CCC’s finances. I’ve asked Revenue Canada to investigate, as it’s not clear if they were ever made aware, as the agency that reviews charities, of these loans hidden from public view,” said NDP MPP Laura Mae Lindo (Kitchener Centre).
According to new revelations by the Toronto Star, McVety and his lawyer have refused to answer simple questions about the CCC’s finances, the loans’ basic repayment terms, or how a charity could approve such loans in the first place. According to one expert consulted by The Star, the loans are unsecured. Canada Revenue Agency’s rules state a charity’s income “cannot be used for the personal benefit of any of its members, shareholders, or governing officials.” The NDP revealed last week the McVety family appears to use the money for pleasure craft, jet skis and ATVs, which they refer to as “toys.”
“Doug Ford should stop rewarding his friend and political ally and pull the bill which awards this organization university degree-granting authority,” said Lindo.
Financial Statements (PDF)