The issue of charities engaging in political activities has been a hot item since 2012. In that year the Harper Government gave $8 million to the CRA Charities Directorate to begin what has been termed the “political activity audits”. Budget 2012 also tightened up the political activity rules which were already in place. It is […]
Wine(ing) About Donations
By: Adam Aptowitzer A recently released decision of the Tax Court of Canada illustrates some of the problems with donations of gifts in kind and their valuation. Donors typically accept the valuation on receipts as accurate. For donations of cash this is not a problem – particularly where the donation is one of cash. However, […]
An Update to the Tax Donation Rate Schedule
By: Adam Aptowitzer For many years tax and charity professionals calculated the after tax cost of a donation based on certain principles. One of those principles was that, at the top brackets both Federally and Provincially, the credit for the donation offset the tax owing for a dollar of income earned and then donated. As […]
Back to School: A New World for Foreign Universities
By: Adam Aptowitzer For many years the Income Tax Act contained a method by which certain foreign universities could attain ‘qualified donee’ status in Canada. That standing effectively amounted to being a Canadian registered charity. This allowed Canadian donors a tax credit for donations to these schools, and for Canadian charities to transfer funds directly […]
Crisis Averted
By: Adam Aptowitzer In our review of Budget 2018, we made some comments related to the concept of prescribed universities. Readers may recall that the Income Tax Act has, for many years, contained an allowance that certain foreign universities would be considered as qualified donees in Canada (akin to registered charities) if they met certain […]
Government Sin of Omission may Lead to Your Sin of Commission
By: Adam Aptowitzer From the perspective of the charity and not-for-profit sector Budget 2018 was a relatively quiet affair dealing mostly with technical matters. However, in enacting changes to the regime which deals with donations to foreign universities the Budget has created an immediate issue for anybody that donates to these schools. What is unknown […]
Demystifying Joint Ventures
By: Adam Aptowitzer Readers of this newsletter will easily recall that charities must maintain control and direction over all of their funds, particularly on projects outside of Canada’s borders. Typically, where the Canadian charity is supplying 100% of the funds, yet working with a foreign intermediary, the relationship is structured as a principal/agent relationship. However, […]
Function and Form
By: Adam Aptowitzer A recent decision of the Tax Court illustrates a concept whose importance is only matched by the universality to which it is ignored. The case of Lichtman involved a number of Orthodox Rabbis teaching at an Orthodox Jewish school in Vancouver. The Rabbis claimed what is known as the “Clergy Residence Deduction” […]
Donating As the Path of Least Resistance
By: Adam Aptowitzer In writing on the donation of capital assets such as publicly traded securities we often describe the adjusted cost base in static terms. Indeed, when discussing donations of assets where there is no tax on the disposition, such as publicly traded securities, certified cultural property or environmental property the cost base is […]
Opportunity is Knocking for Charities Sector- LOUDLY
By: Adam Aptowitzer The tax proposals currently the subject of much public discussion have more or less bypassed the charities sector. Indeed, the changes will not directly affect the regulation of donations or the charities themselves. However, indirectly, the reduction of taxable income in the hands of Canadians will undoubtedly lead to a reduction in […]
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