New Consultations: Modernizing Tax Rules for Charities

As the last remnants of a scrumptious Thanksgiving weekend subside, it is appropriate to take a look at the health and issues surrounding the charitable sector in Canada.  Serendipitously, the federal government is seeking your views on how the tax rules for registered charities and the Canada Revenue Agency’s (CRA) administration of these rules could be modernized.  A new consultation was launched on October 8 and here’s what the government wants to know, by December 3, 2026:

My knowledge and comfort level have grown:  Denis Marcon, Master Financial Advisor™, Manitoba

“If opportunity doesn't knock, build a door.” Milton Berle

A new non-refundable credit is available on the 2016 tax return, which will help families who needed to spend money to make a home accessible to a disabled person.  It’s one of those credits for which you have to dig out receipts, however, but it’s worth up to $1500, and more if you double dip – which is possible and legal!

According to numbers from 2013 reported by Statistics Canada, 82% of Canadians made a financial contribution to a charitable or non-profit organization, down by 2% from 2010. However, although fewer Canadians donated, those who did donated more—14% more in fact, for a total of $12.8 billion.

Over 500 respondents weighed in to Knowledge Bureau Report’s March poll with a definitive message to the federal government: 95% said it was a bad idea to cancel the education and textbook credits in the 2017 tax year. The commentary was voluminous and frank:

In this new feature, Knowledge Bureau President, Evelyn Jacks, brings perspective to Real Wealth Management.