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:

Come out to meet Director of Operations, Al Gordon and Knowledge Bureau faculty member, Alan Rowell, MFA, DFA-Tax Services Specialist, who will be speaking on Real Wealth Management™ – Tax Efficient Retirement Income Layering at the RRC on April 3.

The March 21, 2013 budget was a significant document, which upon reflection, will require high net worth clients, particularly business owners, and their advisors to rethink wealth, retirement  and estate plans. 

Offshore Tax Cheats: the Finance Department wants You! The CRA will be empowered to pay you a “finder’s fee” for identifying international tax cheats as a result of new provisions in the March 21, 2013 budget. Further, businesses using “zapper” software to evade taxes by hiding or “suppressing” sales income will face stiff new penalties and criminal convictions – with fines in the 7 figures.

Canadians with foreign holdings at any time in 2013 (not just at the end of the year), will need to provide more information to the CRA, starting with the 2013 tax year.

Updated with details from Budget 2013, EverGreen is your ever-current online resource for answers to tax questions about personal and corporate tax, and the GST. Be more efficient this tax season with the most current information you need just a few clicks away. View the free demo today!

Learn the tools you need to defend your clients professionally in an e-Tax Audit. Join us in a city near you this May!