Sessions
Top GST/HST Issues - Charities
Tax Insights
Presented by: Michael Monk & Anna Zurat, CPA, CGA
Do you know what the most common mistakes are that a charity might make when it comes to GST/HST? Were you aware that there are significant differences between a charity and a non-profit organization for GST/HST purposes? During this Canada Revenue Agency (CRA) presentation we will discuss these, and other issues.
In CRA’s “GST/HST Charities Outreach” workshop we detailed how CRA is helping new charities “get it right from the start”.
In this additional one-hour presentation, we will discuss some of the errors or omissions that a charity may make with respect to GST/HST, including:
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Misunderstandings about rebate eligibility
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Failing to follow GST/HST rules for charities after transitioning from a non-profit organization
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Failing to use the special net tax calculation (NTC) for charities, when no “opt out” election is in effect
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Incorrectly following all aspects of the NTC
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Claiming Input Tax Credits instead of rebates only, and vice-versa
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Incorrect treatment of taxable vs. exempt supplies (failing to collect GST/HST and/or collecting tax in error)
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Registration for GST/HST and “Small Supplier”.