Among the total $142 billion in new spending over the next 5 years, most of the charitable and nonprofit sector does not rank very high, but there are a few exceptions. In this article, we will look at the big nonprofit and charitable winners in this budget.
Read the article: Canada Budget 2026: Top 5 New Funding Announcements
Considering the government’s focus on investment, it should not be a surprise that Budget 2026 does not contain any particular ‘goodies’ for the charitable sector but it does contain a number of interesting, and important, provisions that charities should know. Some of these changes are relevant for certain sub-sectors while some of the less significant changes are of broader application.
Read the article: Budget 2026 – Interesting but not Ground Shaking
By Adam Aptowitzer The structure of the Income Tax Act is such that if one earns a dollar, one pays taxes on the dollar. If one earns a dollar and gives away the dollar to charity then, in days gone by, the individual is really out of pocket only the after tax amount that they would have […]
As part of a number of business income tax measures intended to increase federal revenues, Budget 2022 proposes to eliminate the flow-through share regime for oil, gas, and coal activities. This may have an important impact on a significant donation tax shelter structure. Flow-through shares are tax-based financing incentives available to the oil and gas, […]
Read the article: Budget 2022 Eliminates Certain Types of Flow-Through Shares
As expected, Budget 2022 brings a change to the rules around how much money registered charities are allowed to keep tucked away in their investment portfolios. There has long been a ‘disbursement quota’ that registered charities have to meet each year, a minimum spend calculated as part of the overall value of the charity’s assets. […]
Read the article: Budget 2022 Dips into Charities’ Larger Investments
By: Adam Aptowitzer Canadian charities proudly participate in important work around the world. Until now, the law requires that registered charities meet the ‘own activities’ test. On a practical level this means that they need to maintain control and direction over their funds and resources, and perhaps even more difficult, they need to keep records […]
Read the article: Control and Direction is Out! Expenditure Test is in!
The structure of the Income Tax Act is such that if one earns a dollar, one pays taxes on the dollar. If one earns a dollar and gives away the dollar to charity then, in days gone by, the individual is really out of pocket only the after tax amount that they would have otherwise […]
Read the article: Paying for the Privilege of Giving Away Money!
Not everyone understands what it is that lawyers do or the technicalities that can sometimes impose themselves on donations to charities. Unfortunately, sometimes it takes the case of a donation gone wrong to illustrate some of the complexities that can accompany large donations. Once such instance recently arose in the Tax Court in the case […]
Read the article: The Case of the Non-Qualifying Sale of the Non-Qualifying Securities
Ontario’s new Not-for-profit-Corporations Act (“ONCA”) is finally coming into effect on October 19, 2021, nearly a dozen fashionably-late years after it was first passed. The ONCA replaces an older act, the Ontario Corporations Act (“OCA”) which is over a century old and has become drastically outdated and out-paced by the more modern legislation modelled by […]
Read the article: Long Wait for new Ontario Not-for-Profit Corporations Act is Finally Over
Most charities in Canada are focused on their annual T3010 filing with the CRA. Generally, charities incorporated outside of Ontario also have an annual corporate filing with their home jurisdiction. Since 2008, Ontario charities have been able to fulfill this obligation by filing an additional schedule with the T3010 return and the CRA has shared […]
Read the article: Information on Information Returns for Ontario