On October 26, 2010, the Auditor General of Canada released its Fall Report to the House of Commons. The Report included a review of the performance of the Charities Directorate. Although the Report noted some areas in which the Directorate...
In a recent technical interpretation (document number 2010-0370841E5) the CRA was asked to provide comments on a proposed gift between two related charities. As we reported in the March 2010 edition of this Newsletter, the 2010 Federal Budget proposed a...
The CRA has publicly announced the first penalty for excess corporate holdings. According to the CRA’s registered charities database the Radcliffe Foundation was penalized $147,749 for its excess corporation holdings. The 2007 budget introduced the so-called excess business holdings rules...
Charities often receive gifts by Will. But at times the donation is not made by the estate by the due date for filing the deceased’s terminal return, and at times the value of the donation may increase or decrease from...
The B.C. Court of Appeal has recently upheld the November 2009 trial decision in Bentley v. Anglican Synod of the Diocese of New Westminster. We reported on the trial judgment in the January 2010 issue of this Newsletter. The case...
The Department of Finance has used an administrative power under the Income Tax Act to allow an American charity, the American Friends of Canadian Land Trusts, “prescribed donee” status. This designation allows U.S. residents to get domestic tax relief when...