Bylaws: Who Needs ‘Em By: Adam Aptowitzer The ongoing changeover of Federal corporations to the Canada Not for Profit Corporations Act is raising interesting questions about the bylaws that may have been used by a corporation since its inception. (It bears mentioning that the same questions arise in the context of Ontario non share capital […]
GOOGLE AND CRA QUESTION AND ANSWER by: C. Yvonne Chenier, Q.C. Q: What do Google and the CRA Charities Directorate have in common? A: They both have “quick view”. In the case of Google, quick view is a snapshot of actual pages that could be downloaded. In the case of the CRA Charities Directorate it […]
Taking Matters Into Your Own Hands: Dissolving Before the Government Does it for You By Alexandra Tzannidakis Readers will know that the new Canada Not-for-Profit Corporations Act came into effect in 2011, bringing the regulation of not-for-profits into line with modern corporate legislation. This carries with it an onus: apply for continuance under the new […]
Taking the Path Less Travelled: Options Other than Continuing by Brent Randall There has been extensive discussion regarding the positive aspects of not-for-profit and charitable corporations continuing under the new Canada Not-for-profit Corporations Act. Most of the analysis focuses on perceived positive elements such as the clear rights afforded to members or the more streamlined […]
Donation of Flow-Through Shares By: Arthur Drache C.M., Q.C. A recent letter published by the CRA[1] offers a comprehensive view of the tax treatment of flow-through shares. By way of reminder, flow-through shares are special shares of mining and exploration companies designed to encourage investment in those sectors. Certain types of shares of qualifying companies […]
Continuing under the new Ontario Not-for-Profit Corporations Act By Alexandra Tzannidakis Any readers involved with a not-for-profit that is incorporated under Ontario legislation should be aware that the law in this area is about to change. The current Ontario Corporations Act (OCA) hasn’t changed substantially in nearly 60 years, so the new Ontario Not-for-Profit Corporations […]
By Adam Aptowitzer The name “Parklane Charitable Donation Program” will be familiar to those that follow the news in the charitable sector. Originally the Program, like others, involved an out of pocket expense and charitable donation tax receipt, the former being several times less than the latter. In the case of Parklane the receipt generally […]
Loss Reduction Activities of a Non-Profit By Arthur Drache, C.M. Q.C. A recent ruling letter[1] from the CRA came to grips with the issue of whether a non-profit organization can maintain its 149(1)(l) status while trying to recover its losses and continue to meet its objectives. The NPO is currently in a loss position; losses […]
Taking the Path Less Travelled – Continuing Provincially By: Brent Randall Last month, we looked at some reasons why an organization may not want to continue under the new Canada Not-for-profit Corporations Act (“the CNCA”). We also considered the option of reorganizing the corporation as a charitable trust as a means to avoid being subject […]
Tax Court Decision of Major Impact to Charity Directors and Tax Professionals Alike By: Adam Aptowitzer A recent decision of the Tax Court of Canada in the Guindon[1] matter has completely changed the way the CRA can assess people who provide advice, information or paperwork related to a filed income tax return. As a result […]