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:

Today's federal budget proposed to change the law both in respect of 10-8 plans and information required from third parties for the purposes of tax administration or enforcement. Here's the case...

Household debt in relation to disposable income rose to another record last quarter, and many are now wondering whether Mark Carney, Governor of the Bank of Canada, was correct to assert that families are listening to his warnings about the risks of borrowing too much.

The CRA recently announced that the prescribed interest rates for the period April 1 to June 30, 2013 will remain unchanged from the previous quarter.

An interview with Evelyn Jacks, President, Knowledge Bureau, by Robert Martellacci, M.A. EdTech, President & Publisher, Mindshare Learning

A business owner in Prince George, BC, Kewal Singh Raju (Raju), and his business, Raju Homes Ltd., plead guilty and were sentenced with hefty fines and jail time for income tax evasion. Raju was fined $113,164 and handed an 18 month Conditional Sentence Order. Raju Homes Ltd. was fined $74,366. The fines represent 75 percent of the taxes evaded.

We are pleased to have Pat Foran, host CTV's Consumer Alert and author of The Smart, Savvy Young Consumer, as part of the Knowledge Bureau team. Learn more about Pat and read an excerpt from the Canadian bestseller The Smart, Savvy Young Consumer.