CNCA Tidbits Karen J. Cooper With the arrival of the deadline of October 17, 2014, the date by which federal corporations must continue under the new Canada Not-for-Profit Corporations Act (“CNCA”), if a federal corporation has not continued all is not lost but corporations should be continuing as soon as possible. We understand that […]
New CRA Ruling on Making Loans to Foundations By Alexandra Tzannidakis, LL.B. In July of this year, the CRA issued a ruling around making loans to charitable foundations. The ruling was requested by a taxable corporation that had set up its own foundation, a registered charity. The corporation wanted to know what the tax consequence […]
By Alexandra Tzannidakis The 2014 Budget proposals have started to take real legislative shape. On August 29th, the Department of Finance released draft legislative proposals for consultation. The proposals mostly affect various aspects of personal, business, and international taxation, but there is also an interesting change being made to the charitable giving world. The draft legislation […]
By Tanya Carlton In June 2014, I discussed the issue of Director’s and Officers’ duties under the Canada Not-for-Profit Corporations Act (“CNCA”). Another important aspect that volunteers should be aware of when they serve on Boards of either charities or not-for-profits (“NPOs”) is the personal liability that can arise in their roles as Directors. Along […]
By Joel Secter The Canada Not-for-profit Corporations Act (CNCA) requires federal non-share capital corporations to prepare and maintain records including, among other things, a register of members, directors and officers. This should be familiar to corporations originally established under Part II of the Canada Corporations Act because it also required them to keep separate registers […]
By Arthur Drache C.M., Q.C. At the end of August, the CRA published a lengthy Guidance (36 printed pages) dealing with its views on who are ineligible individuals under the charity provisions of the Income Tax Act.1 The ineligible individual provisions in the Income Tax Act came into force on January 1, 2012. These provisions […]
By Adam Aptowitzer It is one of the more interesting aspects of practicing law that allows lawyers to consider the situation when two laws designed for different purposes intersect. Sometimes these differences can cause difficulties but when used creatively they, at times, can be the key to solving difficult problems. One such intersection involves a […]
By Tanya Carleton When a charity becomes aware that it has been non-compliant with either the Income Tax Act or the common law, it can cause great anxiety within the organization. According to the CRA, however, most non-compliance issues are “unintentional, accidental, and often of low material consequence,” and they encourage charities to disclose any […]
By Mark S. Anshan In following several not-for-profit and charity mailing lists, I have noticed there are discussions taking place among individuals serving as directors of charities and foundations expressing concerns about governance and apparent lack of proper controls and accountability. With news of charities coming under review and being subjected to government audits, directors […]
By Joel Secter Canadian visual artists celebrated on Sparks Street in Ottawa after their appeal to the Supreme Court of Canada was allowed from the bench on May 14, 2014.1 They have been embroiled in a legal dispute with the National Gallery of Canada (NGC) since negotiation of a scale agreement with the iconic institution […]