In Newsletter 33, CRA identified various registered charities that have had their registered charity status revoked for involvement in tax shelter gifting arrangements.
In Newsletter 33 (http://www.cra-arc.gc.ca/E/pub/tg/charitiesnews-33/charitiesnews-33-e.html), CRA advised as follows:
“Tax shelter-related revocations
In 2009, the following charities had their registration revoked due to tax shelter-related non-compliance. At each link below, you can read a summary of the related revocation. For more general information about tax shelters, see What is a tax shelter? on http://www.cra-arc.gc.ca/gncy/lrt/vshlt-eng.html#q1
The Millennium Charitable Foundation: http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m01/nr090112-eng.html
The Children’s Emergency Foundation: http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m05/nr090511-eng.html
Living Waters Ministry Trust: http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m06/nr090608b-eng.html
Healing and Assistance Not Dependence Canada: http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m06/nr090608-eng.html
Jesus El Buen Pastor Spanish Pentecostal Church of Toronto: http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m08/nr090810-eng.html
Funds for Canada Foundation: http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m08/nr090810b-eng.html
New Hope Ministries Institute: http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m09/nr090908-eng.html
Alberta Distribution Relief Agency Aid Society International: http://www.cra-arc.gc.ca/nwsrm/rlss/2009/m09/nr090914-eng.html
The CRA is reviewing all tax shelter-related donation arrangements (for example—schemes that typically promise donors tax receipts worth more than the actual amount of the donation) and it plans to audit every participating charity, promoter, and investor. “
Related Posts
February 25, 2021
Upcoming Webinars for the Canadian Charity Law Association
The Canadian Charity Law Association is delivering some upcoming webinars. Registration is free but space is limited. Topics are subject to change.…
February 21, 2021
Revised P113 – Gifts and Income Tax 2020 – deals with tax benefits of donating to charities
2020 was a turbulent year. The CRA has updated their document P113 – Gifts and Income Tax for 2020. The P113 is a helpful guide to the tax…
February 21, 2021
Lengthy CRA FAQ on the Canada emergency wage subsidy (CEWS)
Here is a long CRA FAQ dealing with the CEWS which was last updated in early February, 2021: Canada Revenue Agency Frequently asked questions…