September 29, 2012
I sometimes laugh when I see some of the things that lawyers think are worthy of comment. For example really esoteric cases. Then almost two weeks ago there was an important decision in the extremely backlogged Tax Court of Canada - Kossow - it dealt with a type of scheme that CRA labels “abusive charity gifting tax schemes”. In totality the different schemes involve about $6 billion in receipts issued and $3 billion dollars in lost tax revenues. And there is almost complete silence. It is unfortunate that so far no one in the media has picked up on the case. For those who don’t understand the value of charitable donation incentives if the federal and provincial governments lose $3 billion dollars in tax revenue it either means a greater national debt, higher taxes or lower services. Every Canadian taxpayer is paying hundreds of dollars more in taxes as a result of these schemes and they are backlogging the Tax Court of Canada. Hopefully the victory for CRA in Kossow will be another nail in the coffin of these schemes - however, if no one knows that these schemes are being shot down then more gullible people will invest in the schemes.
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September 27, 2012
In this article we discuss “Should Ontario non-profits or charities be worrying about the Ontario Not-for-Profit Corporations Act (ONCA)?” The short answer is: probably not.
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The ONCA received Royal Assent on October 25, 2010. It has not yet come into force. The Ontario Government was targeting implementation of the ONCA for January 1, 2013. Today the Ontario Government announced that their target date for implementation has changed to July 1, 2013. The Ministry of Consumer Services (MCS) and the Ministry of Government Services (MGS) are working on the ONCA.
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Posted by Mark Blumberg on 09/27 |
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Canadian Charity Law
The pre-budget submissions to the Finance Committee have been released. A number of the submissions deal with charity issues.
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Charity Village recently conducted an interview with Cathy Hawara who is the Director General of the Charities Directorate of CRA.
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September 26, 2012
Corporations Canada of Industry has advised that CNCA and certain other federal corporations may use either a residential address or another address for the address for service of directors of the corporation. This will allow directors to use a address, other than their own residential address for Industry Canada purposes.
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September 25, 2012
Here is an article in the Globe and Mail on the revocation of Charity Intelligence for failure to file their T3010 on time entitled “http://soc.li/QcuD8cP” http://soc.li/QcuD8cP About 600 charities fail to file their T3010 every year and lose their status as a result. It is an important document to file with the CRA. We understand that Charity Intelligence will be reapplying for charity status and this temporary setback will not affect their ongoing operation.
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Here is a recent decision of the Tax Court of Canada in Kossow. http://decision.tcc-cci.gc.ca/en/2012/2012tcc325/2012tcc325.html After the Marechaux case, Kossow is the most important case on abusive charity gifting tax schemes. The Tax Court of Canada decided “As in Maréchaux, there was “only one interconnected transaction here”. No part of the Donation was given as a gift without expectation of a return. The appeal is dismissed with costs to the Respondent.”
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September 18, 2012
The Canada Revenue Agency revokes the registration of The Canadian Quadraplegic Association as a charity
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