The 2011 Federal Budget (the “Budget”) contains a number of anti-avoidance measures described below. It does not contain any measures designed to assist with charitable giving or to lessen the regulatory load on Canadian charities. Rather the changes proposed are...
The Budget has proposed significant changes to the regulatory regime that applies to qualified donees other than registered charities. The Income Tax Act provides that official donation receipts can be issued not only by registered charities, but also by other...
The Government believes that there is a pattern of the same individuals being involved in multiple abusive charities. However, the Budget materials admit that under the current rules the CRA may be unable to refuse registration even if there is...
Occasionally a charity or a donor will want to return a gift. For example, a charity may wish to return a gift to a donor whose association with the charity may harm the charity’s reputation or where the gift turns...
The Budget has introduced provisions designed to delay the recognition of a gift where an option to acquire a property is donated to a qualified donee. Prior to the introduction of these provisions, where a donor granted an option to...
The non-qualifying security rules are designed to prevent a person from receiving a donation tax receipt where the person’s gift to a qualifying donee is a share, debt obligation or other security of the person or of a person not...
There have been a number of charity tax proposals put forward in the last year by the charitable sector as suggestions for change. One change that we thought had a real chance of success (because it had no real tax...
In a surprise step, the Federal Government has proposed to limit the availability of the exemption from tax on capital gains where the donated shares are shares acquired pursuant to a flow-share agreement on or after Budget day. The limitation...