We offer income tax services to our Not-For-Profit Organization to ensure that there T2 Corporate Tax Returns, T1044 filings are done for large Not-for-Profits , T3 Filings , T4 filings and GST filings for those Not-For-Profits subject to GST.
Some of the major tax issues in this area are to ensure that the Not for Profit is not operating for a profit or has disproportionately large reserves. We must determine that they are exempt under 149(1)(l). Another common issue is benefits provided to members. Members cannot receive a distribution on income including upon dissolution or windup of the Not-for-Profit. Members include shareholders/senior employees/directors and board members.
We also provide tax services to our registered charities. These services range from discussing your eligibility and filing the application to obtain registered charity status, filing of your T3010 – Information Return, filing of your TF725 – Registered Charity Basic Information sheet, filing of your T1235 – Directors/Trustees and Like Officers Worksheet, filing of your T1236 – Qualified Donees Worksheet, Calculation of the Disbursement Quota and filing the Registered Charity Receipts to their donors.