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The Budget introduces two measures that will significantly increase the power of the CRA to reassess and collect taxes from donors who have participated in charitable donation tax shelters. Together with measures introduced in previous Budgets, which imposed increased penalties...
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The Budget states that, as part of a broader effort to promote integration and efficiency within its international engagement and development efforts, the Canadian International Development Agency (“CIDA”) will amalgamate with the Department of Foreign Affairs and International Trade (“DFAIT”)....
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The Budget clarifies the GST/HST rules that apply to public service bodies (“PSBs”) that provide paid parking services. For the purposes of the GST/HST, a PSB is a municipality, university, public college, school authority, hospital authority, charity, non-profit organization or...
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The Budget sets out areas of support that the Federal Government intends to extend to specific sectors. Charities and non-profit organizations engaged in these sectors or activities should take note of these measures, as government funding opportunities may be available....
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The Tax Act now provides that when the CRA wants information held by one person (e.g. a charity) for the purpose of verifying the tax compliance of unnamed persons (e.g. that charity’s donors), the CRA must first get a court...
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The Budget provides for whistle blower payments when a person discloses information to the CRA that results in collected reassessments in excess of $100,000 where the reassessments relate to non-Canadian property or transactions. The reward payment is to be 15%...
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The Federal Government has introduced a new temporary tax incentive to encourage young Canadians to make charitable donations. First-time donors who make charitable gifts prior to 2018 will receive an additional 25% tax credit, over and above the tax credit...
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The Budget documents comment more broadly on the Report of the Standing Committee on Finance. The Committee had been tasked with reviewing charitable donation incentives and making recommendations in this regard. As noted above, the Committee released its report on...
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As mentioned in the context of the above Report to the Standing Committee, the Budget also comments on the ongoing initiative to facilitate the development of new ideas for social finance in Canada. The potential for social finance to strengthen...
