Budget 2023 and changes to the alternative minimum tax: Be careful when donating publicly listed securities
High-net worth clients who plan to donate publicly listed securities (e.g. public company shares, ETFs, mutual fund units, etc.) to charity should be aware—and wary—of proposed tax changes in the 2023 Federal Budget. Introduced in 1986, the federal alternative minimum...
2023 Federal Budget: Highlights for the Charitable and NPO Sector
On March 28, 2023, the Honourable Chrystia Freeland tabled a new federal budget (the “2023 Budget”). The 2023 Budget sets out the Government of Canada’s spending priorities for the years ahead. These priorities include making life more affordable, investing in...
2023 Canada Federal Budget: A Summary
Canada’s Minister of Finance (and Deputy Prime Minister) tabled Canada’s federal budget for 2023 (“Budget 2023”) on March 28, 2023 (“Budget Day”). While there is good news insofar as Budget 2023 does not propose any increases in tax rates or...
Miller Thomson submits comments on draft guidance on registered charities marking grants to non-qualified donees
On November 30, 2022, the Canada Revenue Agency (“CRA”) released a draft guidance on how it would enforce the recent amendments to the Income Tax Act (Canada) that now permit charities to provide grants directly to non-qualified donees. CRA encouraged...
Amending statements of purpose: Special considerations for Ontario charities
When purposes need to be amended The Ontario Not-for-Profit Corporations Act, 2010 (“ONCA”) was proclaimed into law on October 19, 2021. The ONCA replaces Part III of the Ontario Corporations Act and significantly modernizes the legislation that governs non-share capital...
Robert Hayhoe and Stephen Hsia contribute to The Legal Industry Reviews: Canada
The Legal Industry Reviews: Canada
Robert Hayhoe and Stephen Hsia write on “Canadian charities funding organizations abroad: New rules make it easier” for the Canadian edition of The Legal Industry Reviews: New rules should make it easier for Canadian charities to fund organizations carrying out...
Revisiting the “new” testamentary donation rules
The legal landscape for testamentary charitable gifts underwent a significant sea-change in 2015. In that year, amendments to the Income Tax Act (Canada), R.S.C. 1985, c.1 (5th Supp.) (“Tax Act”) were implemented that apply to deaths occurring on or after...
CRA releases draft guidance on new qualifying disbursements rules, invites feedback
The CRA’s Charities Directorate has issued its long-awaited draft guidance on “Registered charities making grants to non-qualified donees“. The Income Tax Act was amended on June 23, 2022 to include new rules on “qualifying disbursements” (Read our previous article on...
New year, new disbursement quota
Update: Since the initial release of this article, Bill C-32 received Royal Assent on December 15, 2022. Since Federal Budget 2022 was released back in April, the charitable sector has been awaiting confirmation that the proposed increase to the disbursement...
Governance issues involving contractors and employees
A recent Alberta case highlights the governance issues boards can find themselves facing when overseeing their employees and contractors, and the tricky distinction between independent contractors and employees. In Gerling v. Camrose Regional Exhibition & Agricultural Society, 2022 ABCA 210,...
