In order to qualify as a non-profit organization, the following must be met:

Not a charity
Organized for the purpose of civic improvement, social welfare, pleasure, or recreation
Operates for the purpose of civic improvement, social welfare, pleasure, or recreation
No income is available to members, shareholders, or proprietors.

Both non-profit organizations and charities share very similar characteristics, but they are different when it comes to taxation. Charities must register with the CRA to get certain tax advantages, but a non-profit organization does not need to do so. As soon as a charity has completed registration with the CRA and it is approved, they are officially tax exempt and can begin providing donation receipts. A non-profit organization can not issue donations receipts.

Assuming the non-profit organization meets all the requirements, they are exempt from tax for the portion of the year where they qualify. For non-profit, they do not file a traditional tax return, instead they file a Non-Profit Organization Information Return (NPO).

For GST/HST remittance purposes, Non-Profit organizations are given exemptions. These exemptions are based on the type of services and goods that are provided. If an organization gives goods and services free of charge than they are not required to remit GST/HST for these supplies.

This is general comment, and you should contact Tax Partners for any questions by sending an email to [email protected] or (905) 836-8755.

#coinbase #forextrading #finance #bitcoinprice #xrp #forexsignals #ripple #altcoin #success #hodl #binary #motivation #cryptoworld #stockmarket #dogecoin #forexlifestyle #mining #blockchaintechnology #wealth #cryptoinvestor #nft #financialfreedom #altcoins #bitcoinexchange #cryptomining #trade #wallstreet #usa #daytrader #millionaire #cryptotax #bitcointax #crataxcrypto #cracrypto #crabitcoin #capitalgainstaxcrypto #vdpcrypto #cryptoaccountant #cryptolawyer #canadacrypto #canadacryptocourse #cpacrypto #cpabitcoin #vdpetherium #vdpETH #cpacryptotax #cryptoaudit #craauditcrypto #crypto #bitcoin #cryptocurrency #blockchain #btc #ethereum #forex #money #trading #bitcoinmining #cryptotrading #investing #cryptocurrencies #investment #cryptonews #bitcoinnews #bitcoins #entrepreneur #invest #business #eth #forextrader #bitcointrading #trader #investor #bitcoincash #litecoin #binance #binaryoptions #bhfyp #sol #FTM #AVAX #canadacrypto #Barrie #Belleville #Brampton #Brant #Brantford #Brockville #Burlington #Cambridge #Clarence-Rockland #Cornwall #Dryden #Elliot Lake #Greater Sudbury #Guelph #Haldimand County #Hamilton #Kawartha Lakes #Kenora #Kingston #Kitchener #London #Markham #Mississauga #Niagara Falls #Norfolk County #North Bay #Orillia #Oshawa #Ottawa #Owen Sound #Pembroke #Peterborough #Pickering #Port Colborne #Prince Edward County #Quinte West #Richmond Hill #Sarnia #Sault Ste. Marie #St. Catharines #St. Thomas #Stratford #Temiskaming Shores #Thorold #Thunder Bay #Timmins #Toronto #Vaughan #Waterloo #Welland #Windsor #Woodstock #Ajax #Amherstburg #Arnprior #Atikokan #Aurora #Aylmer #Bancroft #Blind River #Bracebridge #Bradford West Gwillimbury #Bruce Mines #Caledon #Carleton Place #Cobalt #Cobourg #Cochrane #Collingwood #Deep River #Deseronto #East Gwillimbury #Englehart #Erin #Espanola #Essex #Fort Erie #Fort Frances #Gananoque #Georgina #Goderich #Gore Bay #Grand Valley #Gravenhurst #Greater Napanee #Grimsby #Halton Hills #Hanover #Hawkesbury #Hearst #Huntsville #Ingersoll #Innisfil #Iroquois Falls #Kapuskasing #Kearney #Kingsville #Kirkland Lake #Lakeshore #LaSalle #Latchford #Laurentian Hills #Lincoln #Marathon #Mattawa #Midland #Milton #Minto #Mississippi Mills #Mono #Moosonee #New Tecumseth #Newmarket #Niagara-on-the-Lake #Northeastern Manitoulin and the Islands #Oakville #Orangeville #Parry Sound #Pelham #Penetanguishene #Perth #Petawawa #Petrolia #Plympton-Wyoming #Prescott #Rainy River #Renfrew #Saugeen Shores #Shelburne #Smiths Falls #Smooth Rock Falls #South Bruce Peninsula #Spanish #St. Marys #Tecumseh #Blue Mountains #Thessalon #Tillsonburg #Wasaga Beach #Whitby #Whitchurch-Stouffville #Burk’s Falls #Casselman #Hilton Beach #Merrickville-Wolford #Newbury #Oil springs #Point Edward #South River #Sundridge #Thornloe #Westport #corporatetaxes