Member-funded societies under the Societies Act (British Columbia): Benefits of becoming a member-funded society
What is a member-funded society? The Societies Act (British Columbia) (the “Act”) sets out the rules and requirements governing British Columbia societies. The Act recognizes “member-funded societies” as an alternative type of society. Member-funded societies do not receive significant funding […]
CRA releases final guidance on qualifying disbursements: an in-depth look for Canadian registered charities
In a previous article, we wrote about the key highlights of the Canada Revenue Agency’s Guidance CG-032 Registered charities making grants to non-qualified donees, its final administrative guidance on qualifying disbursements in respect of grantees (non-qualified donees) (the “Guidance”). The Guidance […]
Distributing dividends to members? Your non-profit’s tax-exempt status may be at risk
The Canada Revenue Agency (“CRA”) reminds certain non-profit organizations (“NPOs”) that distributing funds received by them as taxable dividends will jeopardize their tax-exempt status. In CRA View 2018-0776681E5 (dated March 30, 2023) (“CRA View”), the CRA clarified the tax implications […]
