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 […]
Budget Day 2018 Brings Some Interesting News and Technical Fixes for Charities
By: Alexandra Tzannidakis The federal government’s 2018 Budget, tabled a little early this year on February 27, has few proposals that will affect charities and non-profits. But the ones it has are interesting and in some cases quite helpful. They are a combination of technical fixes, new investments, and indicators of future developments. Political Activities […]