The Tax Court of Canada’s recent decision in Guindon v. R. concerned an assessment of third-party civil penalties pursuant to section 163.2 of the Income Tax Act (the “Act”). For a primer on this type of penalty, please see a...
The Nova Scotia Legislative Assembly has recently passed the Community Interest Companies Act. This Act allows for a new category of share capital company known as a “Community Interest Company” or “CIC”. Earlier this year, British Columbia passed similar legislation...
On December 14, 2012, CRA released Guidance CG-018 Arts Activities and Charitable Registration. The Guidance replaces CRA’s former published policy statements on arts and charitable registration, which were quite limited in scope. The Guidance provides a thorough summary of CRA’s...
As announced in the 2012 Federal Budget, the Government of Canada will be phasing out the penny. The Department of Finance has recently released a short document addressing Frequently Asked Questions from charities relating to the discontinuance of the penny....