November 04, 2010
CRA advised today “A revised Registered Charity Information Return has been developed in response to changes announced in the federal budget of March 4, 2010. This new Form T3010-1 will be used by charities with fiscal periods ending on or after December 1, 2010 and will be mailed to charities early in January 2011.”
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November 03, 2010
Posted by Mark Blumberg on 11/03 |
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Canadian Charity Law
Here is an advisory recently posted on the site of the Canadian Cultural Property Export Review Board warning people to be cautious about any tax shelter involving the gift of cultural property in Canada. The Canadian Cultural Property Export Review Board has instituted a number of measures to minimize the possibility of inflated donations or valuations of cultural property including changes to the application form.
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The Canada Revenue Agency’s annual report to parliament is interesting reading. It has some references to the Charities Directorate, the Charities Partnership and Outreach Program, audits by the charities directorate etc.
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Join me on a “Charity Chat” on Friday, December 3, 2010 12:00 pm (midday) when I discuss “Questions About the Fundraising Guidance”. The Charity Chats are a series of informal online discussions about legal issues affecting charities put on by the Charity Law Information Program (CLIP) of Capacity Builders, with the support of CRA’s Charities Partnership and Outreach Program. It will be about an hour. There is no fee. You don’t have to have read the CRA’s Fundraising Guidance but if you want to you can find a copy at:
http://www.capacitybuilders.ca/files/resources/CRA_Fundraising_Guidance_1259599283.pdf
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November 02, 2010
Paragraphs 11-14 of this judgement deal with dubious charitable tax receipts amounting to $15,000. The court criticized the receipts for not having certain mandatory information as set out in the Regulations to the Income Tax Act and also said that it was implausible in his circumstances, and without there being any evidence of the gift, that Mr. Bangura made the donation of 15,000 in one year. If you want to know what the mandatory elements are see: http://www.cra-arc.gc.ca/chrts-gvng/chrts/chcklsts/rcpts-eng.html
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November 01, 2010
Posted by Mark Blumberg on 11/01 |
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The Strategy Institute’s Foundation, Endowment & Not For Profit Investment Summit is the 8th of its type and will be held in Toronto on January 18 and 19th, 2011. I will be speaking there on Governance and Compliance Challenges for Foundations in 2011.
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Posted by Mark Blumberg on 11/01 |
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Here is a copy of Section 3501 of the Income Tax Regulations under the Income Tax Act Canada dealing with the issuance of official donation receipts and the contents of receipts.
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October 28, 2010
Another registered Canadian amateur athletic association (RCAAA) loses its status because of involvement with abusive charity gifting tax shelters. $25.9 million in donation receipts. This sports group should be ashamed of itself.
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October 27, 2010
Posted by Mark Blumberg on 10/27 |
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Canadian Charity Law
Charity receipting fraud in Canada is a big problem. According to CRA, between 100,000-135,000 donors have been involved between 2004 and 2009 with hundreds of millions in fraudulent donation receipts issued. There is no question that the courts will sentence anyone involved to prison. The issue is how much time. In R. v. Leo-Mensah it dealt with that issue. The Crown sought a stiffer sentence and the courts agreed and gave the accused an extra two years, that is after he had already spent 11 months in pre-trial custody for which he receive a credit on a two-for-one basis. He also received a significant fine. The trial judge had not taken into account “as an aggravating factor, that the value of the fraud committed exceeded $1,000,000. This she was obliged to do pursuant to s. 380.1(1)(a) of the Criminal Code.”
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October 26, 2010
Posted by Mark Blumberg on 10/26 |
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Canadian Charity Law
The 2010 Fall Report of the Auditor General of Canada has been released and Chapter 7 deals with Registered Charities and the Canada Revenue Agency. The audit report is positive. The report suggests some areas for changes or improvements. Here is the conclusion to the report:
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