Topics to Discuss
- Introduction:
- Cross‐Border Donations
- Information Sharing, including CRS
- Trust Tax Return Filings
- Canada Business Corporations Act
Cross‐Border Donations
- Generally, Canadian resident can only get tax credit for individual or income deduction for corporation on donation to Canadian registered charity
- Exceptions:
- Certain foreign universities qualify if registered with the CRA under the ITA
- Article XXI‐7 Canada‐U.S. Tax Treaty permits recognition of Canadian resident donation to U.S. charity, provided donor has U.S.‐source income
- Alternative: Canadian charity registered as "Canadian Friends of Charity X"
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