Setting up and running a charitable organization can be a tricky business, so it’s important to ensure that you’re always on the right side of the law. In this podcast, Adam and Nicole discuss the question of turning a business idea into a charitable venture, whether it is a good idea, and what you need to know if you are going to proceed.
This podcast discusses which charities are eligible to reclaim their GST and what they need to claim on a yearly basis. It also explains the Public Service Bodies Rebate, and outlines other types of GST rebates that charities should be aware of.
We discuss the unique effect that the GST has on charities, the importance for the organization and its directors to understand their liabilities with regard to the GST, and how to determine whether a charity should register for a GST number.
Understanding how the Goods and Services Tax (GST) works is important to all Canadians. In this podcast, find out exactly what the GST is and how it works, whether it is similar to PST in some provinces, as well as how to register for a GST number and how to get a GST tax return.
Find out how the downturn in the stock market affects these types of donations from the perspective of both the donor and the charity, how the benefits that donors receive from such gifts differ from when the market is strong, and what a charity should do if they receive a gift of stock.
Find out more about these disbursement quotas, what happens when a charity doesn’t comply with their disbursement quota, and how long-term projects fit into the equation.
We continue the discussion of disbursement quotas that began in Part 1 and explore such topics as how to calculate your disbursement quota, whether or not an accountant is necessary, how foundations amass large endowments, and the definition of “enduring property”.
Learn more about situations where third-party information may be requested, the impact of a charity’s privacy policy on such a request, as well as a charity’s liabilities with regard to the accuracy of the information they provide.
Compliance agreements occur between charities and the CRA, often following an infraction. Find out exactly what a compliance agreement is, when the CRA might issue one, and what happens if a charity violates a compliance agreement.
Find out when a charity should communicate with the CRA Charities Directorate, best ways to contact the directorate, the role of the ombudsperson, and common mistakes when dealing with the directorate.
