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 […]
The Case of the Non-Qualifying Sale of the Non-Qualifying Securities
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 […]
Information on Information Returns for Ontario
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 […]
Compelling Oral Interviews Without Recording Is a Recipe for a Disaster : Meeting with CRA for Audits
We have written previously about the difficulties that arise when CRA conducts oral interviews of taxpayers. While there is clear authority to do so, and indeed merit in having a conversation to explain the nature of a business, all interviews are fraught with danger. This can be as a result of a language difficulty or […]
BC Throws a Wrench in the Life Insurance Works
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 […]
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