Deadline Extended: Charity Returns

The deadline for filing Registered Charity Information returns was extended to December 31, 2020 for returns due between March 18, 2020 and December 31, 2020. However, the CRA’s Charities Directorate is also encouraging charities to file as soon as possible to avoid expected processing delays as a result of the high volume of returns that will be submitted around the deadline.

In addition to implementing this extended deadline, announced on October 30, the CRA’s Charities Directorate has also resumed compliance activities and will be contacting charities to:

• Resume ongoing charity audits
• Begin Canada Emergency Wage Subsidy post-payment audits
• Begin new audits

Charity revocations for those who have failed to comply with the requirements of charity registration, including filing and reporting obligations have also resumed.

Supporting the charitable sector and the philanthropic goals of donors is covered in Knowledge Bureau’s newest designation program: The MFA-P™- Philanthropy Designation Program.

This program is for advisors looking for specialized professional credentials to develop plans with individuals and families interested in strategic philanthropy. This is an investment trend that is increasingly important to investors of all ages. Tapping into client’s philanthropic goals, advisors will increase opportunities to build trust by better understanding the clients’ values and critical personal causes.

The MFA-P™ Philanthropy Designation teaches advisors and their clients:

• How to incorporate philanthropy into their practice in pragmatic terms
• How to focus on gift planning strategies and vehicles that are relevant to client’s goals
• Practical experience with numerous working case studies that allow advisors to apply that knowledge.

The program includes 3 courses, all included for one low price of $1,495:

Introduction to Strategic Philanthropy

Understanding the Charitable Sector

Integrating Gift Planning

In addition, year-end donation planning will be a topic at the upcoming Virtual CE Summit on November 18.