Canada Revenue Agency
May 22, 2018 Drache Aptowitzer LLP Business and Legal Issues, Charities, Corporate Administration and Legal Matters, Financial Management, Not for Profit
The system of rules imposed on registered charities are complex and are imposed both on the collection of revenue and its spending. In theory, all of these rules now apply to foreign universities.
Adam Aptowitzer, Canada Revenue Agency, Canadian charity laws, charitable donation, charitable giving, foreign universities, Income Tax Act Charitable Provisions, Prescribed Universities, requirements on foreign universities
January 19, 2018 Occasional Contributors Charities, Finance and Accounting, Financial Management, Income Tax Planning / Tax Schedules / Remittances, Not for Profit
The clergy residence deduction provides for a limited deduction for housing provided to a member of the clergy or supplied by a member of the clergy. It is a deduction that has existed for a long time and seems to have been designed to address the situation of a member of the clergy who is provided with a manse by a local congregation, but who may be expected to use the house in the course of clergy duties.
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January 15, 2018 Drache Aptowitzer LLP Charities, Corporate Administration and Legal Matters, Corporate Governance, Not for Profit
Many larger charities are structured in such a way that there is a head organization with subordinate divisions operating below it. For example, a charity that operates across the country may do so by way of local ‘chapters’ overseen by a main organization, or a religious governing body may have several related parishes.
Alexandra Tzannidakis, Canada Revenue Agency, charity, CRA Guidance, Drache Aptowitzer LLP, Income Tax Act, Internal Controls, internal division charitable status, Registered charities, subordinate registration, umbrella organizations
January 9, 2018 Occasional Contributors Advocacy and Public Policy, Board of Directors, Process and Responsibilities, Business and Legal Issues, Charities, Corporate Governance, Environmental Issues, Finance and Accounting, Income Tax Planning / Tax Schedules / Remittances, Leadership and Management, Not for Profit, Sales, Marketing and Operations
In August 2017, the Canada Revenue Agency (“CRA”) updated its Guidance CG-014 on community economic development (“CED”) activities and charitable registration. There were a number of updates to the Guidance, but the most significant was the inclusion of the statement that charities are now able to support, on a more long-term basis, the efforts of businesses that are helping to rebuild communities affected by disaster.
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October 2, 2017 Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons) Announcements and Administration, Charities, Corporate Administration, Corporate Administration and Legal Matters, Corporate Governance, Finance and Accounting, Financial Compliance / Planning / Management, Income Tax Planning / Tax Schedules / Remittances, Leadership and Management, Not for Profit
Canada Revenue Agency recently released the following updates which are of interest to charities and other not-for-profits.
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September 5, 2017 Occasional Contributors Accounting Systems and Controls, Accounts payable and receivable, Budgeting and Auditing, Business and Legal Issues, Corporate Administration, Finance and Accounting, Financial Compliance / Planning / Management, Income Tax Planning / Tax Schedules / Remittances, Records Management and Retention, Sales, Marketing and Operations
On March 30, 2017, the Federal Court of Appeal (FCA) released its decision in BP Canada Energy Company v. MNR (2017 FCA 61), dealing with whether the Minister of National Revenue (the Minister) could compel the taxpayer to disclose the uncertain tax positions reflected in its tax accrual working papers (TAWPs).
Canada Revenue Agency, Income Tax Act, tax accrual working papers, taxation
May 1, 2017 Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons) Accounting Systems and Controls, Business and Legal Issues, E-Commerce, Finance and Accounting, Financial Compliance / Planning / Management, Government Budget, Throne Speech and Plans, Income Tax Planning / Tax Schedules / Remittances, Leadership and Management, Sales, Marketing and Operations
The sharing economy has disrupted the traditional taxi, hospitality and other sectors, and is expanding the tax base available to governments and revenue agencies worldwide.
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February 22, 2017 Drache Aptowitzer LLP Advocacy and Public Policy, Board of Directors, Process and Responsibilities, Charities, Corporate Administration and Legal Matters, Financial Management, Not for Profit, Volunteers and Employee Relations
As our readers know, the new government has taken steps to revamp the restrictions on political activities by charities, by dismantling the political activities audit program and by promising a new approach following consultation with the public and members of the charities industry. It is important, however, to note that the changes may not only effect the charity realm as Nova Scotia Community Interest Corporations have similar restrictions.
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January 23, 2017 Yosie Saint-Cyr, LL.B., Managing Editor Accounting Systems and Controls, Accounts payable and receivable, Budgeting and Auditing, Business and Legal Issues, Corporate Administration, Corporate Governance, Finance and Accounting, Financial Compliance / Planning / Management, Income Tax Planning / Tax Schedules / Remittances, Records Management and Retention
Ernst and Young’s tables of substantively enacted corporate income tax rates have been updated to December 31, 2016. The tables are prepared on a monthly basis and you can subscribe to them on Knotia.ca. The determination of the substantively enacted date of a corporate income tax rate change follows the guideline provided in EIC-111 (generally […]
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December 14, 2016 Drache Aptowitzer LLP Advocacy and Public Policy, Board of Directors, Process and Responsibilities, Charities, Corporate Administration and Legal Matters, Financial Management, Not for Profit, Volunteers and Employee Relations
When the Liberals came into power last year, the new Minister of National Revenue announced that she was putting a halt to the “political activities” audit of charities that the previous administration had been conducting for the past few years. In practice, this meant that the charities in line to be audited under the program were given a reprieve, but those that were already in the course of being audited were not. One of the latter charities, Canada Without Poverty, is now bringing a constitutional challenge against the political activities law.
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November 16, 2016 Drache Aptowitzer LLP Budgeting and Auditing, Business and Legal Issues, Corporate Administration, Finance and Accounting, Financial Compliance / Planning / Management, Income Tax Planning / Tax Schedules / Remittances, Leadership and Management, Payroll and Personnel Management, Records Management and Retention
Practically every tax professional in the country has had to deal with the situation which arises when the Canada Revenue Agency (CRA) bases its reassessing position on the basis of an oral comment to the CRA. The difficulty is that there is no proof the comment was made or it may have been the result of a misunderstanding between the parties. In our practice we had one instance where a comment by an official of a charity to the CRA served as basis for reassessing over a thousand taxpayers. While the official admitted to having made the comment the fact was that the CRA auditor had misunderstood the context in which it was made.
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November 9, 2016 Yosie Saint-Cyr, LL.B., Managing Editor Advocacy and Public Policy, Board of Directors, Process and Responsibilities, Charities, Corporate Administration and Legal Matters, Financial Management, Not for Profit, Volunteers and Employee Relations
The Government of Canada has committed to modernizing the rules governing the charitable sector to ensure that they are operating in a regulatory environment that respects and encourages their contribution to society. One of the areas they are looking into is clarifying the rules governing charities political activities.
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November 2, 2016 Yosie Saint-Cyr, LL.B., Managing Editor Accounting Systems and Controls, Accounts payable and receivable, Business and Legal Issues, Corporate Administration, Finance and Accounting, Financial Compliance / Planning / Management, Income Tax Planning / Tax Schedules / Remittances, Records Management and Retention, Sales, Marketing and Operations
The Canada Revenue Agency (CRA) has announced that it has redesigned the correspondence it sends to Corporations regarding their business tax information, including individual Canadians, and Goods and services tax/harmonized sales tax (GST/HST) notices of assessment (NOA) and notices of reassessment (NOR). The CRA has made changes to how the notices are structured, designed, formatted, and written, making the information easier to read and understand.
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August 17, 2016 Drache Aptowitzer LLP Board of Directors, Process and Responsibilities, Charities, Corporate Administration and Legal Matters, Not for Profit
Whether it is assisting Syrian refugees to settle in Canada or helping those fleeing from floods and fires, the goodwill of the people and charities in Canada always make headlines. In times of disaster, it seems many charities want to raise money and get on the bandwagon to help those in need. Although this may be a laudable goal for charities that want to show their benevolence, sometimes it could simply get them into trouble.
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