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Not-for-profit Corporations Act:Royal Assent
July 5, 2009
Last December when my CGA chapter held a not for profit panel discussion on compliance, Industry Canada was excited to participate.
We learned that Industry Canada had proposed a new Act. Someone mentioned that this wasn't the first time they had put forward such amendments, but nothing to date had actually passed. Well this time was different.
Congratulations are in order. The new Act received Royal Assent on June 24, 2009.
http://www.ic.gc.ca/eic/site/ic1.nsf/eng/04784.html
If you missed that event last December, the PowerPoint summary of each of the 9 presenters top 3 compliance points we should know, 3 questions they answered and links to their handouts graciously presented can be found here:
http://www.taxdetective.ca/Nonprofitlinks.html
Look for a cross Canada effort on compliance for not for profit organization coming from CRA in the near future. This workshop was a wake-up call for CRA. Charities Division and Business Windows both pointed at each other when we asked who was responsible for Not for Profits at CRA. They listened, participated, had employees to represent them on our panel and mentioned compliance initiatives would be instigated in the future.
Eileen Reppenhagen CGA does not research or endorse any product or service appearing in ads on this site. Before making any major financial decision(s) you should consult a qualified professional.
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