New Consultations: Modernizing Tax Rules for Charities

As the last remnants of a scrumptious Thanksgiving weekend subside, it is appropriate to take a look at the health and issues surrounding the charitable sector in Canada.  Serendipitously, the federal government is seeking your views on how the tax rules for registered charities and the Canada Revenue Agency’s (CRA) administration of these rules could be modernized.  A new consultation was launched on October 8 and here’s what the government wants to know, by December 3, 2026:

Knowledge Bureau’s Advanced Bookkeeping for Multiple Business course is the logical next step for any bookkeeper to up their game and forge ahead in their career.

Providing value to your clients: Andre Yong Tit Kow, DFA - Tax Services Specialist™, Ontario

“The first responsibility of a leader is to define reality.”  Max DePree

The CRA has cancelled Information Circular IC98-1R5 and replaced it with a sixth version, which provides a new overview of CRA collections policies for individuals, corporations, GST registrants, employers and those who import or export or travel across borders. Advisors and clients will want to refresh on their obligations:

When can you claim the interest on investment loans? It’s a common question but the answer depends on the investment for which you are borrowing money. In order to claim the interest when you borrow money to invest, your loan must meet three criteria.

It was almost unanimous: 89% of responders to January’s Knowledge Bureau Report poll question agreed—the $30,000 cap on claiming luxury vehicles has long required a raise to reflect more accurately the price of cars this century. Here are the significant comments that accompanied the vote: