Update on Key Developments in the Law in Canada Affecting Charities
August 2022 Charity & NFP Law Update
– Draft Budget Implementation Legislation Will Increase DQ and Affect Trust Reporting
– CRA News
– BC Foundation Administering Government Funding Subject to Judicial Review
– Employment Update
– Privacy Law Update
– CRA Provides View on Funds Raised Through Crowdfunding
– COVID-19 Employment Update
– ATF/AML Update
– Lexpert Rankings
– Best Lawyers in Canada Rankings
– Update on Carters Webinars/Seminars
Update on Carters Webinars/Seminars
August 2022 Charity & NFP Law Update
Carters Fall Charity & Not-for-Profit Law Webinar™, hosted by Carters Professional Corporation will be held on Thursday, November 10, 2022 from 9:00 am to 12:45 pm EDT. Brochure and Online Registration available at www.carters.ca
Save the Date – Thursday, March 2, 2023, the Carters Winter Charity & Not-for-Profit Law Webinar, and will contain different topics from those in the Fall webinar. Our Winter webinar will also include matters of interest to charities, not-for-profits, as well as faith-based organizations.
Draft Budget Implementation Legislation Will Increase DQ and Affect Trust Reporting
Aug 2022 Charity & NFP Law Update
The disbursement quota is expected to soon be increased, as first announced in Budget 2022. Two pieces of draft legislation – one to make technical amendments to the Income Tax Act (“ITA”) and Income Tax Regulations (“Regulations”), and one to implement parts of Budget 2022, among other proposals, by amending the ITA and Regulations – has been released. In particular, the draft legislation proposes changes to the disbursement quota (“DQ”), trust reporting, technical updates regarding filing returns, as well as listing of prescribed donees. The draft legislation was released by the Department of Finance on August 9, 2022, together with explanatory notes. It is expected that the proposed changes will appear in budget implementation legislation to be introduced in the House of Commons when Parliament resumes in September 2022.
For full details on the draft legislation and its impact on charities, please see Charity & NFP Law Bulletin No. 515