Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course will provide a detailed technical review of the numerous income tax issues faced by registered charities and not-for-profit organizations (NFPOs), including real-world examples and case studies to provide participants with practical and useful takeaways. Attendees will gain hands-on experience relating to the income tax rules and filing requirements that apply to charities and NFPOs.
This course will equip directors, management, volunteers, staff, and/or professional advisors of registered charities and NPFOs with the knowledge that they need to help ensure that they are operating in compliance with the income tax rules and requirements.
Although registered charities and not-for-profit organizations (NFPOs) usually escape the full wrath of the dreaded taxman, they are still faced with strict tax rules that, if not followed, can lead to loss of tax status, financial penalties, and bad press. Registered charity and NFPO tax rules differ substantially from those that apply to private sector companies. Without a solid understanding of these rules, organizations may encounter difficulties in meeting their tax filing requirements and in complying with the numerous rules established in the Income Tax Act along with the related jurisprudence and guidance.
Topics Include:
- Tax compliance requirements for registered charities and NFPOs.
- Canadian tax rules pertaining to loss of tax-exempt status.
- Planning techniques designed to minimize the risk of lost tax-exempt status.
- The latest proposed and enacted tax legislation affecting these entities as well as the associated Canada Revenue Agency’s administrative interpretation and guidance.
- Preparing the T3010 Registered Charity Information Return and T1044 Non-Profit Organization (NPO) Information Return through the use of relevant case studies.
- Basic sales tax issues applicable to registered charities and NFPOs.
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- February 5, 2025, 8:30 a.m. - 12:30 p.m.
- February 6, 2025, 8:30 a.m. - 12:30 p.m.
Key Takeaways
By the end of this course, participants should be able to:
- Identify income tax issues and assess related risks associated with the activities carried on by registered charities and NFPOs.
- Comply with the income tax rules as they apply to registered charities and NFPOs.
- Complete the T3010 Registered Charity Information Return and T1044 Non-Profit Organization (NPO) Information Return.
Who Will Benefit
This course caters to several professionals, including the following groups:
- Practitioners who:
- Provide advice to registered charities or NFPOs.
- Require a review of their taxation knowledge of charities/NFPOs.
- Board Members, management, volunteers, and/or other professionals involved with a registered charity/NFPO who are:
- New to the organization.
- Wish to ensure that the organization is fully compliant with the applicable tax rules.
- Members of registered charities and/or NFPOs.
Prerequisite(s)
While participants taking this course do not require any prerequisite knowledge, a practical understanding of how registered charities/NFPOs operate would be useful and would allow participants to participate more fully in discussions.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Claire Tian, CPA, CA is a Senior Manager in the Domestic Tax Group at Grant Thornton LLP. She has practised public accounting since graduating from the University of Toronto with a master’s degree in Management and Professional Accounting in 2013. Claire completed the CPA In-Depth Tax Program in 2019 and has extensive experience advising owner managers of private corporations, high net worth individuals, and not-for-profit organizations.