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Greetings!
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Welcome to the September 2011 edition of the Charity Law Insights.
The coming of autumn will have charities, RCAAAs and qualified donees focusing on complying with the recent proposals of Budget 2011. We also expect that the new Canada Not for Profit Corporations Act will come into force this fall. So stay tuned to your Drache Aptowitzer LLP newsletter for further guidance and information on these topics.
As usual, we look forward to receiving your feedback about our newsletter..
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Yours truly,
Drache Aptowitzer LLP | | | |
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Beware of Creating Life Tenancies in the Family Home
We recently ran into a situation which gave us pause to think about the use of a fairly common will provision which is designed to ensure that a surviving spouse can stay in the family home after the death of the other spouse.
The situation will often arise in cases of a second marriage where each spouse has children from the previous marriage.
To read the full article click here:
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Proposed Electronic Commerce Protection Regulations
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Hitting the Reset Button - Interest Relief for Reassessed Donors
By: Adam Aptowitzer 
While it may seem like ancient history, some donors involved in the now notorious set of art-flips in the late 1990's are still dealing with the resolution of their Income Tax Disputes. Lessons can be taken from these individuals for those dealing with CRA disallowance of long ago donations such as disallowed donations through tax shelters. In some cases, the interest (compounded daily retroactive to the year which has been reassessed) is greater than the amount of tax originally assessed. And it is on this front that there has been an interesting development.
To read the full article: |
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The Other New Act in Town
Not long after the Canada Not-for-profit Corporations Act ("CNCA") received Royal Assent, Ontario's Not-for-profit Corporations Act, 2010 ("ONCA") was given Royal Assent as well. Like the CNCA, the ONCA will modernize the provincial not-for-profit sector by enhancing corporate governance, giving more rights to members and affording greater protections to directors and officers of non-share capital corporations. While the ONCA draws extensively on the CNCA, there are material differences between the two statutes and they cannot be approached as one and the same.
For more information click here:
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