Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
NOTE: No updates or changes were made to the 2023 version of this course. If you completed the course in 2022, please be advised the 2023 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.
The non-profit sector covers a wide spectrum of activities, including clubs, professional associations, schools, hospitals, supportive housing, health services, and other charitable works. The application of GST/HST to these activities and its recovery through rebates and input tax credits is usually far more complex than in a commercial enterprise and may vary significantly depending on the legal form of the organization. Failure to be aware of these complexities can result in lost opportunities or worse, large tax assessments against the organization.
This course, delivered primarily in a lecture format, will focus on the unique rules applicable to public service bodies, including the distinction between charities and other non-profit organizations. Other exemptions which may apply to some non-profit organizations, such as health care or education, will be reviewed briefly. The course will also briefly examine issues related to the construction of housing and similar property by non-profit organizations. Participants will gain a greater awareness of the application of GST/HST and exempting provisions applicable to this unique sector, including common pitfalls and errors. A case study will be used to illustrate and reinforce the application of some of the complex rules applicable to a typical non-profit organization.
This course does not however cover the special rules and exemptions applicable to governments and municipalities or related entities; it is focused on non-government organizations only.
TOPICS INCUDE
Topics included in this course include:
- A brief review of GST/HST basics, including relevant GST/HST place of supply rules
- A discussion of issues related to grants, donations, and fundraising activities
- A recap of GST/HST exemptions and certain elections unique to public service bodies
- An explanation of GST/HST rebates, input tax credit entitlements, registration, and accounting
- Examples of common pitfalls and errors
- A brief discussion of other exemptions applicable to NFPOs, including housing, health care, or education
LEARNING OBJECTIVES
By the end of this course, participants should be able to:
- Explain the importance of a CRA audit
- Describe the different types of CRA audits
- Describe the audit process
- Describe a taxpayer’s rights and responsibilities
- Identify most common audit exposures
WHO WILL BENEFIT
Although applicable to all accounting professionals, the course is focused on the needs of professionals involved in the accounting for non-profit organizations, including practitioners who provide advice to such organizations.
How to Access The Course
To access the course please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.