The federal government’s 2018 Budget, tabled a little early this year on February 27, has few proposals that will affect charities and non-profits. But the ones it has are interesting and in some cases quite helpful. They are a combination of technical fixes, new investments, and indicators of future developments. Political Activities Remain to be […]
As we anticipated, there were no dramatic announcements in the Budget which affect charities. But there were a number of references, few of which were unanticipated. For example, the document states that “pertaining to rules governing charities and their political activities, the CRA, in consultation with the Department of Finance, will engage with charities through […]
Gifts to Foreign Charitable Foundations Donors in Canada often experience disappointment when wishing to give money to foreign charities because the Income Tax Act does not consider them to be qualified donees within the meaning of the Act. (Qualified donees are organizations that can issue official donation receipts for gifts they receive from individuals and […]
The 2015 Budget announces proposed changes to the Income Tax Act to allow registered charities (i.e. charitable organizations, public foundations, and private foundations) and registered Canadian amateur athletic associations (RCAAAs) to invest in limited partnerships. What’s Changing? Charities have, up to now, been mostly blocked from investing in limited partnerships by the ‘related business’ rules […]
By: Arthur B C. Drache C.M., Q.C. We have been watching federal budgets at close range for more than four decades. The style has changed, of course. The notion of Budget secrecy has essentially gone by the boards…along with the timing which used to be eight o’clock in the evening. But certain things don’t change…but […]
By: Adam Aptowitzer For several years now there have been voices in the charity community advocating for change to the regime by which private company shares and non-environmentally sensitive land may be donated to charity. The arguments for making the changes were good. The first argument for making the change was that conceptually there should […]
With Regard to the 2009 Budget, Only Time Will Tell Arthur Drache, January 27, 2009 The government had two priorities in bringing down the 2009 Budget. The first and by far the more important to the government was to survive, which meant bringing down a document which did not offend the Liberals too much. This […]
Changes to RESP Rules Provide Planning Opportunities Arthur Drache, March 26, 2007 The changes to the rules relating to registered Educational Savings Plans announced in the federal budget modestly improve the plans for contributing parents and grandparents.but offer some new and very interesting strategies for the well heeled. Up to the time of the Budget, […]
We Tip our Hat to Flaherty – Personal Tax Matters Arthur Drache, May 02, 2006 With all the speculation in the lead up to the May 2 Budget, we have to say that we remained highly sceptical that the Conservatives would deliver much more than the minimum when it came to matching election promises with […]
The Giving Spirit Meets the Tax Advisor Adam Aptowitzer, December 04, 2006 This is the time of year where parents spend time with their children, co-workers revel in collegiality, retailers rejoice with their profits, and taxpayers look to generate tax deductions and credits. This year may be particularly beneficial for individuals in the latter category […]