By Terrance S. Carter & Theresa L.M. Man

A Deep Dive into the T3010: Why the T3010 Matters to Gift Planners

The new version 24 of the CRA’s T3010 Registered Charity Information Return was released on January 8, 2024 to be used by registered charities for fiscal year ending on or after December 31, 2023, as reported in our Charity & NFP Law Bulletin No. 525.

In a presentation given at the Canadian Association of Gift Planners (CAGP) Foundation’s
2024 Advanced Canadian Gift Planning Summit in Ottawa on April 2, 2024, Theresa Man explains various issues and concerns of how the new version 24 of the CRA’s impacts charities. Although the emphasis of the presentation was focused on gift planners, the issues are likewise applicable to all charities.

The presentation pointed out that the T3010 is not just a tax return for accountants to complete, but has real practical implications for charities. The presentation provided an overview of the T3010 form, the schedules attached to the form, and various other forms that need to be completed as part of a complete T3010 filing. Most importantly, the presentation provides an insightful explanation of new information that is now required to be reported in version 24 and pointed out concerns with this new required information, including donor advised funds held by registered charities, restricted funds held by foundations, impact investing made by charities, and calculation tracking the disbursement quota obligation.

The full PowerPoint presentation can be viewed on the Carters website here.

A Deeper Dive into QDs and DQs: Qualifying Disbursements and Disbursement Quota Regimes

Unlike a DQ Sandwich from Dairy Queen that is predictable and generally satisfying, the murky and evolving world of DQs (“Disbursement Quota Rules”) and QDs (“Qualifying Disbursements”) is neither predictable nor very satisfying.

In a presentation given at the Canadian Association of Gift Planners 30th National Conference on Strategic Philanthropy in Ottawa on April 3, 2024, Terrance Carter explains a number of the key aspects concerning the complexities, challenges and interrelationships associated with the new qualifying disbursement regime and its practical implications, as well as the increased disbursement quota regime and its changes and challenges.

The full PowerPoint from this presentation can be viewed on the Carters website here.

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