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...
In this podcast, 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...
The Income Tax Act requires charities, as nontaxable entities, to spend a certain percentage of their income each year on charitable activities. In this podcast, find out more about these disbursement quotas, what happens when a charity doesn't comply with...
When audited by the Canada Revenue Agency, charities may find themselves being asked to provide third-party information. Third-parties can be as varied as the charity's donors or employees, and when the CRA requests information, a charity has little choice but...
Compliance agreements are really just agreements made by an organization to comply with the law. How does this affect charities? Typically, compliance agreements occur between charities and the Canada Revenue Agency (CRA), often following an infraction. Find out exactly what...
When it comes to compliance with tax laws, many charities feel slightly in the dark. But an understanding of the CRA Charities Directorate and its regulations is of utmost importance if your charity is to avoid an audit, investigation, or...
Much has been made in the press over the last year about the alleged fraudulent use of tax shelter plans by Canadian charities. If you’re at all interested in the charitable sector in this country, then you’ve likely read the...
The Canada Revenue Agency (CRA) recently published a list of model objects (charitable purposes) that nonprofit organizations can consult before applying for charitable status. Adam Aptowitzer, a lawyer with the Ottawa-based law firm Drache LLP, explains what these model objects...
This checklist may be of use to those considering joining a board of a charity. As well, it may be useful to staff and the board of charities who are interested in improving their legal compliance and improving their risk...
Some Canadian charity boards and senior staff when dealing with legal, accounting, governance problems seem to operate under the premise “Forget about it”. Hey, it even seems to sometimes works. In many cases, however, there is a time of reckoning....
