At the National Convention of STEP held in Toronto in June of this year, there was a roundtable with the CRA and one of the questions will have importance to some planners with regard to donations for an alter ego trust to a charity. This is always a highly technical issue and we are reproducing […]
Catalyst for Change: Senate’s Report on the Charitable Sector
On Thursday, June 20, 2019, the Senate Special Committee on the Charitable Sector, which was established to review the impact of the voluntary sector in Canada and the federal and provincial laws and policies governing charities and non-profit organizations, released its report, Catalyst for Change: A Roadmap to a Stronger Charitable Sector (hereinafter the “Report”). […]
An Ounce of Prevention
As lawyers, we are often contacted when a dispute arises amongst members of an association. Inevitably, the dispute will devolve into a review of the legality of the actions of one or both sides. Given that most associations are corporations, there are, in fact, laws which must be followed in order that the authority of […]
Organizations May Face Fines for Third-Party Election Advertising
Does your organization send out information about an issue? Does it have a position on that issue? Might that issue become a hot topic in the 2019 Federal election? If so, your organization might unknowingly be election advertising once the writ drops in September 2019. Yes, even if the position is presented in a non-partisan […]
Keeping the Options Open
Readers of the business news are often treated to headlines that CEOs receive compensation in the multi-millions of dollars. A large portion of this may be cash but, generally when the compensation goes from the absurd to the ludicrous, stock options are involved. Stock options are often given by start-up business to incentivize employees to […]
Ruling on Student Loan Scheme Might Attract Non-Profits
A recently published CRA memorandum, which despite redactions, appears to refer to a proposed financing scheme at the provincial level will be some substantial interest to secondary educational institutions and may open the door to some private or charitable planning.[1] It has been edited to try to make it somewhat clearer. “This memorandum is in […]
New Digital Services for Charities
As of June 1, 2019, the Canada Revenue Agency offers new digital services for charities through their platform, My Business Account (“MyBA”). You, your employee, or your Authorized Representative can do the following tasks online: apply to become a registered charity, a registered Canadian amateur athletic association (RCAAA), or registered national arts service organization (RNASO) […]
Do record keeping time limits mean anything anymore?
One of the most common questions asked by the lay taxpayer is for how long they need to keep their tax records. And while there is a legislated answer for this, one wonders whether it is ever safe to destroy records. Paragraph 27 of IC 78-10R5 summarizes the retention periods as follows: for a corporation, […]
“Social Impact Bonds” on the Rise in Canada
Social Impact Bonds (SIBs) are an interesting part of the larger trend of ‘impact investing’ that has been rising in Canada and around the world in recent years. An SIB is essentially an investment model that allows a government to fund innovative social programs without having to risk its own assets up-front. The concept is […]
Charities and the Canada Elections Act Amendments Part 2
By: Lex Klombies Part II: The Nitty-Gritty on the Canada Elections Act Amendments for Non-Profits and Charities The next Canadian federal election is on October 21st, 2019, and many of our readers are curious about what they need to be mindful of if they engage in public policy dialogue and development activities near election time. […]
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