People buy life insurance policies for a number of reasons. These reasons may include to fund potential business obligations or to protect a young family. In either case, the purpose of the policy may disappear if the individual outlives the need for which they purchased the insurance in the first place. In the case of […]
It’s a Whole New Ball Game for Charities at the FCA
Canadians are well used to attending at various tribunals, boards, and panels. The assumption is that the decision makers at these bodies are subject to certain rules to ensure that they operate fairly and come to decisions that are applied legally. Parliament and the various provincial legislatures have set up these quasi-courts to take advantage […]
Charities in the Waiting Room
Most organizations that are pursuing charitable status are incorporated. Part of the requirement for achieving such status is that the corporation is organized to pursue charitable purposes. But that by itself is not enough for charitable registration and so prospective charities must apply to the CRA for registration. The question then arises about the tax […]
No Equity in Tax Court
Those with long memories in the charity sector will recall that the voluntary sector initiative of the 1990’s promoted the introduction of sanctions for offences that were less than revocation. It also advocated that appeals of these sanctions be heard by the Tax Court, and hoped that before long a body of case law would […]
This Just In: New Report Recognizes that Not All Charities are Bad Actors. Now someone tell the banks.
We have written before about the risks posed to Canadian charities from the international movement of financial institutions towards “de-risking”. De-risking is the response of these institutions to the movement by the Financial Action Task Force (“FATF”) and its related partner entities to force financial institutions to aid in the fight against money laundering and […]
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 […]
Charities – Part of the Great Underbanked?
Every so often the media reports that there are people in the world who do not have access to banking services, the so-called “underbanked”. For those of us in Canada, it is almost impossible to imagine such a situation, given the ubiquity of our banks and the plethora of services that they offer. However, for […]
Retail Therapy for Governments
Retail Therapy for Governments by: Adam Aptowitzer Pre-election budgets can be predictable in their spending, but in certain circumstances budgets are predictable because they spend. Budget 2019 falls into this unusual class of retail therapy because government revenues are pouring in yet this is a pre-election budget (and this is a Liberal government). Consequently, extra revenues […]
Nothing is More Opaque than Absolute Transparency
Nothing is More Opaque than Absolute Transparency[1] By: Adam Aptowitzer It is no secret that Canada often legislates on the basis of its international commitments. What Canadians often do not realize is that Canada also legislates on the basis of international pressure on it. Such is the case with recent amendments to the Income Tax Act […]
No Good Deed Goes Unpunished
Readers of a certain age will recall the damage and the aftermath of Hurricane Katrina. Hurricane Katrina hit the Gulf Coast of the United States in August 2005. In the aftermath of the Hurricane the levees in New Orleans broke and flooded much of the city. The damaged areas were primarily the poorer parishes of […]
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