First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

Not for Profit

CRA announces upcoming changes to the T3010 and T2050, removing political activities

On March 15, 2019, CRA announced that there will be changes to the T3010 Annual Return and the T2050 Application to Register a Charity to account for the recent changes to the political activities rules for Canadian registered charities.

 

, , , , ,

Objects of registered charities in Canada are sometimes not charitable

Objects are very important and often Canadian charities don’t understand that even though they are a registered charity their objects may not actually be charitable.

 

, , , , ,

Account changes for registered charities under CHAMP

Canadian charities now have more options for doing certain transactions online using the CHAMP system. Charities should look into accessing their CHAMP account.

 

, , , , ,

An ounce of prevention

As lawyers, we are often contacted when a dispute arises amongst members of an association. Inevitably, the dispute will devolve into a review of the legality of the actions of one or both sides

 

, , , , , , , ,

GAAP closes gaps in interpreting financial information

Generally accepted accounting principles (GAAP) closes gaps in interpreting financial information, by providing rules for the financial reporting road.

 

, , , , , , , , , ,

Dramatic changes to the CRA Charities Listing

CRA has recently updated its Charities Listing and the most notable change is the fact that they have reduced the amount of information available on each Canadian registered charity.

 

, , , , ,

Jurisdictional expansion of BC’s Civil Resolution Tribunal to societies: A new avenue of dispute resolution

Effective July 15, 2019, a variety of society disputes (defined as “society claims” under the relevant legislation) may be resolved by the B.C. Civil Resolution Tribunal (“CRT”) instead of the B.C. Supreme Court.

 

, , , , , ,

Top Canadian charity law issues by Mark Blumberg

Here is our list of the Top Canadian Charity Law Issues by Mark Blumberg. Hopefully, it provides a good overview of the most common charity law compliance issues for Canadian registered charities with an emphasis on concerns from the Charities Directorate of CRA.

 

, , , , , , , , ,

Not-for-profit boards need a succession plan for their CEOs/EDs

Notwithstanding the vast differences between for-profit and not-for-profit entities, both need succession plans to quickly and effectively replace CEOs/EDs, whether the departure is planned or abrupt.

 

, , , , , , , , , ,

The charities and the Canada Elections Act amendments series

Two major changes to the field of political participation received royal assent on December 13th, 2018: changes to the charities’ political activities rules in the Income Tax Act, and changes to the Canada Elections Act.

 

, , ,

The ISACA has traded in COBIT 5 for COBIT 2019 (Part 3 of 3)

The ISACA has traded in the 7-year old COBIT 5 for COBIT 2019. This is the last of a 3-part series examining this change. Read part 1 here and part 2 here.

 

, , , , , , , ,

“Social impact bonds” on the rise in Canada

Social Impact Bonds (SIBs) are an interesting part of the larger trend of ‘impact investing’ that has been rising in Canada and around the world in recent years.

 

, , , ,

The ISACA has traded in COBIT 5 for COBIT 2019 (part 2 of 3)

The ISACA has traded in the 7-year-old COBIT 5 for COBIT 2019. This is the second of a 3-part series exploring COBIT 2019.

 

, , , , , , , ,

Canadian Federal Budget 2019 and its impact on non-profits and charities

Finance Minister Morneau delivered the 2019 Federal Budget on March 19, 2019. Here is our article.

 

, ,

Previous Posts