The CRA has revised its T4117 Income Tax Guide to the Non-Profit Organization (NPO) Information Return and the T1044 Form - Non-Profit Organization (NPO) Information Return. If an organization is a registered charity under the Income Tax Act they would not have to complete the form.
Non-profits only have to file the NPO information return if they are not registered charities and if
? it received or was entitled to receive taxable dividends, interest, rentals, or royalties totalling more than $10,000 in the fiscal period;
? the total assets of the organization were more than $200,000 at the end of the immediately preceding fiscal period (the amount of the organization’s total assets is the book value of these assets calculated using generally accepted accounting principles); or
? it had to file a NPO information return for a previous fiscal period.
For copies of the form see:
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.