By Alexandra Tzannidakis The failure to maintain books and records is ground for suspension of a charity’s tax-receipting privileges. Such a suspension can translate into the loss of big donations. This article is the second in a series on what “books and records” means and how to meet the requirements. Part I (An Introduction) is available […]
New CRA Ruling on Making Loans to Foundations
New CRA Ruling on Making Loans to Foundations By Alexandra Tzannidakis, LL.B. In July of this year, the CRA issued a ruling around making loans to charitable foundations. The ruling was requested by a taxable corporation that had set up its own foundation, a registered charity. The corporation wanted to know what the tax consequence […]
Spousal Sharing of Charitable Tax Deductions Goes From Policy to Law
By Alexandra Tzannidakis The 2014 Budget proposals have started to take real legislative shape. On August 29th, the Department of Finance released draft legislative proposals for consultation. The proposals mostly affect various aspects of personal, business, and international taxation, but there is also an interesting change being made to the charitable giving world. The draft legislation […]
NPOs’ Internal Procedures are Subject to Judicial Review
NPOs’ Internal Procedures are Subject to Judicial Review By Alexandra Tzannidakis Within the microcosm of a not-for-profit organization, where internal bylaws and rules are generated and enforced by the organization itself, it can be easy to lose sight of the fact that there is always an external source of recourse in the form of judicial […]
The Evolving Law of Charitable Gifts
By Alexandra Tzannidakis, LL.B. The lack of a statutory definition of a “gift” has created ongoing problems between taxpayers and the Canada Revenue Agency in regards to charitable donation tax receipts. Ultimately, the various disputes that arise are settled by the courts, who in the process fulfil their common law role of whittling away at […]
Considering Costs in Estate Litigation
By Alexandra Tzannidakis, LL.B. A recent judgment from the Ontario Court of Appeal provides a good reminder to factor in the risk of paying costs before deciding whether to litigate a matter. In Sawdon Estate v Watch Tower Bible and Tract Society of Canada et al. [2014 ONCA 101], the court awarded a type of ‘blended’ […]
Taking Matters Into Your Own Hands
Taking Matters Into Your Own Hands: Dissolving Before the Government Does it for You By Alexandra Tzannidakis Readers will know that the new Canada Not-for-Profit Corporations Act came into effect in 2011, bringing the regulation of not-for-profits into line with modern corporate legislation. This carries with it an onus: apply for continuance under the new […]
Continuing Under the New Ontario Not-For-Profit Corporations Act
Continuing under the new Ontario Not-for-Profit Corporations Act By Alexandra Tzannidakis Any readers involved with a not-for-profit that is incorporated under Ontario legislation should be aware that the law in this area is about to change. The current Ontario Corporations Act (OCA) hasn’t changed substantially in nearly 60 years, so the new Ontario Not-for-Profit Corporations […]
Drawing the Line on the CNCA’s Financial Requirements
Drawing the Line on the CNCA’s Financial Requirements By Alexandra Tzannidakis The new Canada Not-for-Profit Corporations Act (“CNCA”) introduces a quagmire of financial rules based on two new class divisions that interact in inexplicable ways. This head-scratching setup will likely leave smaller federally-incorporated charities wondering where exactly they fall in terms of important auditing requirements. […]
Unanimous Members’ Agreements: a New Era in Not-For-Profit Managmeent
Unanimous Members’ Agreements: A New Era in Not-for-Profit Management By Alexandra Tzannidakis The new Canada Not-for-Profit Corporations Act makes a general attempt to regulate not-for-profit corporations in a manner similar to the Canada Business Corporations Act. As part of this vision, it allows non soliciting corporation (generally those that are not supported with public funds) […]