Social Impact Newsletter

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August 3, 2023

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Trust reporting rule – A new (and unnecessary) compliance burden for registered charities?

Robert B. Hayhoe, Gwenyth Stadig, Hillary Linden

As part of seeking to prevent inappropriate tax avoidance using trusts, the Federal Department of Finance recently introduced new trust reporting rules that will apply beginning at the end of 2023.  These rules are designed to increase transparency by requiring...

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Distributing dividends to members? Your non-profit’s tax-exempt status may be at risk

Michelle S. Eng, Derren Roberts

The Canada Revenue Agency (“CRA”) reminds certain non-profit organizations (“NPOs”) that distributing funds received by them as taxable dividends will jeopardize their tax-exempt status. In CRA View 2018-0776681E5 (dated March 30, 2023) (“CRA View”), the CRA clarified the tax implications...

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