Taxation - Registered Charities and NFPOs - 2023

Overview:

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.

This course will provide a detailed technical review of the numerous income tax issues faced by registered charities and not-for-profit organizations (NFPOs), including real-world examples and case studies to provide you with practical and useful takeaways. You will gain hands-on experience relating to the income tax rules and filing requirements that apply to charities and NFPOs. 

This course will equip directors, management, volunteers, staff, and/or professional advisors of registered charities and NPFOs with the knowledge that they need to help ensure that they are operating in compliance with the income tax rules and requirements.

Course Content:

In this course, you will gain knowledge about the following topics:

• 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 NFPOs

Learning Objectives:

By the end of this course, you should be able 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
• Complete the T3010 Registered Charity Information Return and T1044 Non-Profit Organization (NPO) Information Return

Who Will Benefit: 

This course caters to several professionals, including the following groups:

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