Making the Most of Your Assets Adam Aptowitzer, October 20, 2006 Canadians are familiar with making donations of cash or securities and getting a charitable donation tax credit for such donations. However, with the possible exception of artwork and used cars, they are less familiar with getting a tax receipt for donations of assets. Nevertheless, […]
Trick or treat: income trusts and charities Adam Aptowitzer, December 28, 2006 This past Halloween, the federal government perpetrated the biggest trick in Canada when it broke an election promise and changed the taxation of income trusts in Ottawa. The change in the legislation governing trusts was precipitated by the conversion (or anticipated conversion) of […]
It could happen… Adam Aptowitzer, July 20, 2007 Most charities are aware that their year end date is critical for determining their filing deadline and disbursement quota obligations. For charitable trusts the taxation year end is the end of the calendar year while for charitable corporations it is usually set in the by-laws of the […]
Administrative Deregistration – Just the Beginning of Your Problems Adam Aptowitzer, September 11, 2007 The rampant confusion between not-for-profits and charities in Canada has been taking on a new dimension since the Canada Revenue Agency has become more active in deregistering charities for administrative non-compliance. As charity professionals know, there is a distinct difference between […]
Tax Harmonization Is Not Music to the Ears Adam Aptowitzer, July 09, 2009 The Ontario attempt to harmonize its provincial sales tax regime with the federal GST has the charity sector struggling to understand the impact these sweeping changes will have on the various types of charities within the sector. Because the Excise Tax Act […]
Having Your Cake and Eating it Too – Donating Residual Interests Adam Aptowitzer, December 13, 2007 Most people who are familiar with the donation of property to charity do not realize that the bundle of rights that comes with the ownership of property can be divided in different ways. One of the ways to do […]
Looking forward to 2010 Adam Aptowitzer, December 17, 2009 Welcome to another edition of Charity Law Insights at Drache – Tax, Estates and Charity Law. Over the past year we have been involved in several major writing projects of Provincial and National importance which have detracted from the timeliness of our newsletters. That said, we […]
Charities Directorate Releases Three Positions Via Web Adam Aptowitzer, January 31, 2010 On Issuing Receipts to Other Registered Charities One of the questions which we field most often from growing charities is whether the charity should issue official donation tax receipts to other registered charities (generally foundations) from which they receive grants. While the answer […]
Good News on Land Transfer Tax in Manitoba and Ontario Adam Aptowitzer, April 04, 2010 Homeowners in most provinces know that the land transfer tax due on purchase of the home can be the straw that breaks the camel’s back as far as affordability goes. Most provinces have a version of the land transfer tax […]
FUND-RAISING WITHOUT A LICENCE When door-to-door canvassers knock on my door or telephone solicitors call on the telephone (usually during mealtime), I often query them about their charitable activities and their objectives. Furthermore, I always ask them if they are registered or have a licence to fund-raise. Most of the canvassers who have been armed […]