7
The Amended DQ
§The
federal Budget of March 2010 reformed the disbursement quota formula.
§The
Budget repealed the “charitable expenditure rule”, removing the 80% spending requirement (the 3.5% spending requirement on investment property remains).
§The government indicated in
the Budget that:
“recent legislative
and administrative initiatives have
strengthened the Canada Revenue Agency’s
ability to ensure that a charity’s fundraising
and other practices are appropriate.”