The 2014 Budget introduced several changes and developments that
are of particular relevance to registered charities, their donors
and not-for-profit organizations (NPO); these include:
Enhanced tax recognition for individuals who donate
'ecologically sensitive' land in the form of an increased
tax credit carry-forward period.
Introduction of electronic filing of applications for
charitable registration and annual charity returns.
Revocation of charitable status for the acceptance of donations
from state supporters of terrorism.
Removal of the exemption for donations of 'cultural
property' from the tax shelter anti-avoidance rules.
Announcement that in the wake of CRA's NPO Risk
Identification Project, the Federal Government is now reviewing the
tax exemption provision for non-profit organizations with a view to
determining whether NPOs are currently subject to sufficient
transparency and accountability provisions.
For a more detailed report on the Budget's provisions
relating to registered charities, their donors and NPOs,
Aboriginal Tax Policy
The Federal Government has entered into 35 sales tax
arrangements under which Indian Act bands and
self-governing Aboriginal groups levy a sales tax within their
settlement or reserve lands. The Federal Government has also
entered into 14 income tax arrangements under which self-governing
Aboriginal groups impose personal income tax on residents of their
settlement lands. The Federal Government confirmed its continued
support for direct tax arrangements between Aboriginal governments
and provinces and territories.
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
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