Charity Law Insights - October, 2006    Making the Most of Your Assets    Ten Percent Rules Offers Poor Protection for Political Activities    Une association sportive amateur peut-elle évoquer un statut d’organisme de bienfaisance? La Cour suprême tranchera.    Audit Exemption for Ontario Charities Making the Most of Your Assets - Adam Aptowitzer Canadians are familiar with making donations of cash or securities and getting a charitable donation tax credit for such donations. However, with the possible exception of artwork and used cars, they are less familiar with getting a tax receipt for donations of assets. But indeed, donation tax credits are available for donations of all types of property. More... Ten Percent Rules Offers Poor Protection for Political Activities - Arthur Drache A couple of months ago we were speaking with somebody who commented that in his view, the so-called “10%” rule pretty much ensures that few if any charities will be threatened because of political activity. We were surprised by this observation because in our view the “rule”, which is embedded in the Income Tax Act has never offered any level of protection except at the whim of the taxing authorities. More... Une association sportive amateur peut-elle évoquer un statut d’organisme de bienfaisance? La Cour suprême tranchera. - Sebastien Desmarais C’est cette épineuse question que la Cour Suprême du Canada a accepté d’entendre dans l’appel A.Y.S.A. Amateur Youth Soccer Association v. Canada Revenu Agency. L’appelante a été constituée pour promouvoir le soccer, notamment le soccer amateur chez les jeunes. Son principal objectif est d'offrir aux jeunes la possibilité de tirer fierté de leurs capacités et de leurs talents au soccer. La demande d'enregistrement comme organisme de bienfaisance a été présentée dans la perspective qu'elle poursuivrait ses activités uniquement en Ontario. More... Audit Exemption for Ontario Charities - Adam Aptowitzer There seems to be much confusion around the requirements for the auditing of Ontario Not-for-Profit Corporations. By way of review a charity can be either incorporated or unincorporated; an incorporated organization in Ontario would be incorporated under the Corporations Act which includes a number of corporate requirements for the normal operation of a corporation. One of these requirements relates to the auditing of the corporations financial statements. More... You are receiving this e-mail because you have subscribed to one of our Drache LLP newsletters. You have complete control to review, update your newsletter options or unsubscribe at your discretion. If this email was forwarded to you, we invite you to subscribe to this newsletter or others that appeal to you. Your subscription information is private, please feel free to review our privacy policy. © Drache LLP Barristers & Solicitors, 222 Somerset St. W., 2nd Floor, Ottawa, Ontario K2P 2G3 Phone: (613) 233-2675 Facsimile: (613) 233-6752 Email: crotenberg@drache.com