CRA Announces Audit Project Targeting High Net Worth Individuals and Related Entities
In the February 5, 2011 issue of the Financial Post, Jamie Golombek, Managing Director, Tax and Estate Planning at CIBC, reported on a new CRA audit initiative targeting “high net worth” individuals for audit or review. Mr. Golombek reports that...
The State of Social Enterprise in Canada
Horizons - Innovative Communities: Agents of Change
There is a real buzz in the charitable and not-for-profit sector in Canada. The buzz is around the concept of “social enterprise.” What does it mean? How does it work? How does it fit within our traditional structures? All these...
Innovative Communities: Agents of Change
Horizons - The State of Social Enterprise in Canada
Canada Not-for-Profit Corporations Act Expected in Spring
Charities and non-profit corporations that are federally incorporated should prepare for the changes to their governing legislation, which is expected to come into force in the Spring of 2011. The Canada Not-For-Profit Corporations Act (the “CNCA”) received Royal Assent on...
When Should Charities Indemnify Directors?
A recent decision of the Ontario Court of Appeal clarifies when a charity must indemnify its directors. Pandher v. Ontario Khalsa Darbar was an appeal of the costs portion of an Ontario Superior Court of Justice decision in what appears...
CRTC Do Not Call Lists (DNCL) – Penalties for Violations
Background On December 16, 2010, the telemarketing firm Xentel DM Inc. (“Xentel”) made national headlines when the Canadian Radio-Television and Telecommunications Commission (“CRTC”) announced that the company had agreed to pay $500,000 in penalties for telephoning individuals whose names were...
Minutes of Meetings Still a Vague Area in Terms of Style
Charities are required under the Income Tax Act to maintain books and records related to their operations. Such “books and records” include minutes of meetings of both directors and members. Most organizations, whether they are incorporated or not, keep at...
Alter Ego Trust as Charitable Remainder Trust
A question regarding the use of an alter ego trust (or a joint partner trust) as a charitable remainder trust was raised at the CRA roundtable at the 2010 CALU Conference (CRA document number 2010-0359461C6). Generally speaking, a charitable remainder...
Miller Thomson adds Saskatchewan Charities Expertise
Miller Thomson is pleased to announce our merger with Saskatchewan full service law firm Balfour Moss LLP, effective January 1, 2011. Balfour Moss is one of the oldest and most established law firms in the province. The addition of the...
Miller Thomson Foundation 2011 Scholarship Programme
The Miller Thomson Foundation is pleased to announce the launch of our 2011 National Scholarship Programme. The Miller Thomson Foundation has increased the National Scholarship Programme from $200,000 to $300,000 annually, awarding 100 entrance scholarships in the amount of $3,000...
