1.New Regulatory Regime for Qualified Donees
•“Qualified donee” (QD) is defined in the Income Tax
Act – may issue official donation receipts for gifts
and may receive gifts from registered charities
•Budget proposes to extend certain regulatory requirements,
that currently apply only to charities, to the following types of
QDs
–Registered Cdn. amateur athletic
asso. (“RCAAAs”)
–Municipalities in Canada
–Municipal and public bodies
performing a function of government in Canada
–Housing corporations in Canada
that exclusively provide low-cost housing for the aged
–Prescribed universities
–Charitable organizations outside
of Canada that received a gift from Her Majesty in right of Canada
in the current or preceding year
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