February 7, 2008
CRA tax tip on charitable giving

The Canada Revenue Agency (CRA) is reminding taxpayers that you can reduce your income tax by donating to registered charities. In 2007, the federal tax credit for charitable donations is 15% of the first $200 you donate, plus 29% of any amount donated over $200. It is advantageous for spouses to pool donations and claim them on one return. You can claim donations you made this year or carry them forward for up to five years. For more information, please see the CRA?s website.
http://www.deloitte.ca/en/Services/tax/highlights/archive.asp?ID=5070
 
April 8, 2008
Warnings for donors to avoid fraud

In a news release, the Canada Revenue Agency (CRA) is reminding donors to follow certain steps to avoid becoming a victim of fraud. In order to be eligible for a tax credit, a donation must be made to a charitable organization registered by the CRA or to other qualified donnees. You can verify that a charitable organization is registered by consulting the online CRA Charities Listings, which is updated daily. As well, make sure that you receive an official receipt for tax purposes that includes the required information.

http://www.deloitte.ca/en/Services/tax/highlights/archive.asp?ID=5183


May 16, 2007
Annual returns and attachments for registered charities
 
The Canada Revenue Agency (CRA) has announced that registered charities can now fill out their annual returns and attachments online. The CRA describes these fillable PDF forms as the first step on the road to providing registered charities with electronic filing options in the future. The following are available:
 

http://www.deloitte.ca/en/Services/tax/highlights/archive.asp?ID=4667

 


July 20, 2007
New tests for designation of charities

The Charities Directorate of the Canada Revenue Agency (CRA) is now administering the proposed changes to the definitions of "charitable organization? and "public foundation? included in Bill C-33, Income Tax Amendments Act, 2006. Bill C-33 replaces the contribution test with a new control test. The Charities Directorate is now applying the control test to its review of applications for registration and re-designation. Registered charities will have until 90 days after Bill C-33 receives Royal Assent to apply for retroactive re-designation for taxation years that begin after 1999. For details, please see the CRA?s web site.

http://www.deloitte.ca/en/Services/tax/highlights/archive.asp?ID=4767

 


August 20, 2007
CRA?s Registered Charities Newsletter

The Charities Directorate, whose mandate is to promote compliance with the law and regulations concerning charitable organizations, publishes a regular newsletter to inform such organizations. Bulletin No. 28, Summer 2007, includes information on the objections and appeals processes, and on the latest legislative changes affecting charities.

http://www.deloitte.ca/en/Services/tax/highlights/archive.asp?ID=4814