OBJECTIVE:
The full-day seminar (delivered in two segments) provides a detailed technical review of the numerous income tax issues faced by registered charities and NFPOs, including real-world examples and case studies to provide participants with practical and useful takeaways.

Although registered charities and not-for-profit organizations (NFPOs) usually escape the full wrath of the dreaded taxman, they are still faced with strict tax rules that, if not followed, can lead to loss of tax status, financial penalties, and bad press. Registered charity and NFPO tax rules differ substantially from those that apply to private sector companies. Without a solid understanding of these rules, organizations may encounter difficulties in meeting their tax filing requirements and in complying with the numerous rules established in the Income Tax Act along with the related jurisprudence and guidance.

WHO WILL BENEFIT:
This seminar caters to several professionals, including the following groups:

• Practitioners who:
  
  • provide advice to registered charities or NFPOs
  • require a review of their taxation knowledge of charities/NFPOs
• Board Members or other professionals involved with a charity/NFPO who are:
  
  • new to the organization
  • wish to ensure that the organization is fully compliant with the applicable tax rules
  • Members of charities and/or NFPOs

LEARNING OUTCOMES:
The session will enable participants to:

• identify income tax issues and assess related risks associated with the activities carried on by registered charities and NFPOs,
• comply with the income tax rules as they apply to registered charities and NFPOs, and
• complete the T3010 Registered Charity Information Return and T1044 Non-Profit Organization (NPO) Information Return.

CONTENT:

• Tax compliance requirements for registered charities and NFPOs
• Canadian tax rules pertaining to loss of tax-exempt status
• Planning techniques designed to minimize the risk of lost tax-exempt status
• The latest proposed and enacted tax legislation affecting these entities
• Preparing the T3010 Registered Charity Information Return and T1044 Non- Profit Organization (NPO) Information Return through the use of relevant case studies
• Basic sales tax issues applicable to registered charities and NFPO

PREREQUISITES:
While participants taking this seminar do not require any prerequisite knowledge, a practical understanding of how charities/NFPOs operate would be useful and would allow participants to participate more fully in discussions

COURSE LEADER: DEAN AUSTIN, FCPA, FCA