By Karen J. Cooper Charities are often unsure whether soliciting and accepting corporate sponsorships requires them to collect and remit HST, similar to the for-profit sector. The following article discusses how HST affects charities, and specifically how HST affects charities that solicit sponsorship money. It is important to note from the outset of this article […]
Tax Court Decision of Major Impact to Charity Directors and Tax Professionals Alike
Tax Court Decision of Major Impact to Charity Directors and Tax Professionals Alike By: Adam Aptowitzer A recent decision of the Tax Court of Canada in the Guindon[1] matter has completely changed the way the CRA can assess people who provide advice, information or paperwork related to a filed income tax return. As a result […]
Non-Profits and Taxable Subsidiaries
Non-Profits and Taxable Subsidiaries By Arthur B.C. Drache, C.M. Q.C. Tax planning for tax exempt entities often involves the creation of “sibling” or controlled taxable corporations. Properly executed, the created corporations can carry on activities which are either prohibited to the parent or carry some risk that the parent is not willing to undertake directly. […]
In Incentive Lies Behaviour – If You Understand the Incentive
In Incentive Lies Behaviour – If You Understand the Incentive By: Adam Aptowitzer Most Canadians are aware of the effect that RRSP contributions have on their taxes, and are aware of the deadline for making contributions each year. This is mostly due to the educational efforts of the banks and others that ‘sell’ RRSPs make […]
Tough Ruling in Non-Profit Distribution to Members
Tough Ruling in Non-Profit Distribution to Members By Arthur Drache C.M., Q.C. A recent ruling letter[1] from the CRA takes a fairly hard line on the distribution to members, a position which in our view can certainly be disputed. The following is the fact situation. A non-profit organization provides, among other services, internet services to […]
Finance Committee Report is a Disappointment
Finance Committee Report is a Disappointment By: Adam Aptowitzer Several years after hearings into charitable donation incentives were first proposed by Member of Parliament Peter Braid, we finally have the report of the Parliamentary Finance Committee. Unfortunately, it seems that the after years of anticipation the final report is neutered of any real effect because […]
Death and Taxes May be Inevitable, But Does it Have To Be So Complicated?
Death and Taxes May Be Inevitable, But Does It Have To Be So Complicated? by Adam Aptowitzer We have written before (several times in fact) of the great untapped potential in the donation of shares of private companies to charity. That there is great value in private companies is evident in their title as the […]