Topics: What's New from the Charities Directorate of CRA, Canadian Charity Law, Political Activities and Canadian charities
Here is a short summary of the major provisions relating to charities in the 2012 Federal Budget - tried to keep it to 100 words but I did not make it.
Budget 2012 and charities
* receipting suspension for incomplete T3010 filings (eg. Not putting in fundraising costs, political activities etc)
* more transparency by Canadian charities on foreign grants to Canadian charities earmarked for political activities (but no limits on it)
* Canadian inter-charity transfers earmarked for political purposes count towards 10 percent allowance of both donor charity and recipient charity.
* changes to one category of qualified donee namely foreign charities who receive a gift from the federal government - this revamped category may result in more international philanthropy.
* bigger penalties for charity tax shelters
* there were no additional tax incentives (Stretch Credit etc.) but also no cuts as in US and UK.
Do you require legal advice with respect to Canadian or Ontario non-profits or charities?
Mark Blumberg is a partner at the law firm of Blumberg Segal LLP in Toronto and works almost exclusively in the areas of non-profit and charity law.