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Charitable Donations

By Nizam Shajani, CPA, CA, MBA November 27, 2020 Tis the season to be giving. And donations to charities should be top of mind. Here are a few points to consider from a tax perspective to being nice this year. In Canada there are significant tax incentives for a qualified donation to a qualified donee.…
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COVID-19 Federal Benefits and Supports – Canada Emergency Wage Subsidy Update

November 19, 2020 By Nizam Shajani, CPA, CA, MBA This subsidy is available to Canadian businesses, big or small, individuals, partnerships and corporations that are not publicly funded. This will also be available for not for profit organizations and charities. Those organizations that do not qualify for the Canada Emergency Wage Subsidy may continue to…
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Power of Trustees

By Nizam Shajani, CPA, CA, MBA November 16, 2020 Trustees should be selected carefully as the trust deed may give them significant administrative powers to manage the trust property. This includes the power to: o Sell trust property; o Postpone the sale of trust property; o Lease land; o Grant options to purchase or to…
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Charitable Purpose Trusts

By Nizam Shajani, CPA, CA, MBA November 13, 2020 A charitable purpose trust is a trust for a purpose that is recognized under the common law as a ‘charitable purpose’. This is not the same thing as a ‘charity’. Non-profit organizations are exempt from tax. Charitable organizations are given an additional advantage, as they can…
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