Not-for-profits incorporated federally or under Ontario law must review their by-laws to meet the requirements of new legislation. Federally incorporated not-for-profits have until October 2014 to file Articles of Continuance proving that they comply. The Ontario law has not yet come into force – but it will not require any special government filing. Instead, if an organization’s by-laws fail to conform to the new law, the law will take precedence over the organization’s documents.
Thursday February 28: mark it on your calendar! That’s the filing deadline for T-slips for the 2012 tax year.
By Ontario law, municipalities must offer a rebate of at least 40% of property tax to registered charities that rent commercial or industrial space. Check your municipality’s website for details. Rebate claims are due by the last day of February each year.
Canadian charities are not required to issue charitable donation receipts by a certain deadline (or at all!) – but the Canada Revenue Agency (CRA) suggests that you issue them by February 28, 2013, so donors can claim their 2012 tax credit. Even better – for complete clarity with your donors, try and make it a policy to issue receipts by December 31 so the previous year’s receipts bear an issue date of the same year.
If you have been audited by the CRA for GST/HST (or any other tax), you will be given a time limit within which you can file an appeal. If you have concerns, file the appeal! You can always withdraw it. Better not to miss the deadline.
Is your organization incorporated federally in Canada? Under the new Not-for-Profit Corporations Act, you have until October 17, 2014, to submit Articles of Continuance. Organizations that do not respond will be assumed inactive and dissolved.
You can claim GST/HST rebates and input tax credits up to four years from the date of purchase. So, in 2011, you can claim on items back to 2008.
Charities that aren’t registered to charge GST/HST can claim partial rebates twice per year. It’s to your advantage to claim as frequently as you can! Complete this form after the 6th month of your fiscal year, and at year-end.
Most employers must remit source deductions (CPP, EI and income tax) by the 15th day of the following month. Large organizations may be required to remit more frequently. Small organizations with a good track record may be allowed to remit quarterly. This document provides additional details.
Does your charity have a December year-end? Your T3010 deadline is coming up on June 30. Charities have 180 days after their fiscal year-end to file the return with the Canada Revenue Agency.