April 17, 2024
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Last Week
Apr 5, 2024 – April TO DO List
- March payroll liabilities due April 15.
- Set aside financial reports and other items you will need when completing your annual Registered Charity Information Return on Form T3010.
Mar 20, 2024 – March TO DO List
- February payroll liabilities due March 15.
- If you have a December 31 year-end and if the Annual General Meeting has taken place, finalize any necessary changes to the financial reports and budget.
- Produce enough copies of these documents to: (1) file in your archives, (2) give to each director and trustee, (3) use as a working copy when completing the T3010, (4) attach to the T3010 when submitting to CRA, (5) give to any other parties requiring a copy as per your denomination or constitution, and (6) provide to your financial institution if they require a copy for your loan or your mortgage file.
- Review bank records to ensure there are no outstanding cheques or concerns from 2022.
- Once all 2022 files are completed, prepare them for storage and record the dates when each file's retention date expires and can be shredded.
Feb 2, 2024 – February TO DO List
- January payroll liabilities due February 15.
- T4s, T4As etc. must be given to employees and other individuals providing services no later than February 29.
- Copies of all T4s, T4As etc. and their respective Summaries must be sent to CRA no later than February 29.
- Provide all donors with their charitable tax receipts no later than February 29. If you have a fiscal year-end that is not December 31st, you must still complete charitable tax receipts for all donors now because these receipts are based on the calendar year of January 01 to December 31.
- If you have not already done so, submit your application for the GST/HST Public Service Bodies Rebate.
The following are for those with a December 31 fiscal year-end:
- If using the accrual bookkeeping method, pay close attention when reconciling the January and February bank statements to ensure all expenses are credited to the proper year.
- Finalize financial statements in preparation for the Annual General Meeting.
- Prepare a list of counters for the offering counting teams to be used during the upcoming year and have this list approved by the new Board after the Annual General Meeting.
- Prepare a counting team schedule as far in advance as possible in order to assist the counters with planning to be available when needed.
Dec 18, 2023 – Automobile Deductions and Expenses for 2024
The Department of Finance Canada announced today the automobile income tax deduction limits and expense benefit rates for 2024.
The limit on the deduction of tax-exempt allowances paid by employers to employees who use their personal vehicle for business purposes in the provinces will increase by two cents to 70 cents per kilometre for the first 5,000 kilometres driven, and to 64 cents for each additional kilometre.
The rates for the territories are traditionally set 4 cents higher and they will also increase by two cents to 74 cents per kilometre for the first 5,000 kilometres driven, and to 68 cents for each additional kilometre.
While the above information will be sufficient for most churches and ministries, additional details for specific situations including standby charges for the personal use of an employer provided vehicle, capital cost allowance, leasing costs, interest costs, etc. may be viewed in the news release on the Department of Finance Canada website at
May 31, 2023 – CRA Updates T3010 and Adds New Form T1441
CRA has updated the T3010, Registered Charity Information Return which now requires charities to report grants they made to non-qualified donees. This update was made within Section "C" by adding question C16 which contains four new Lines: 5840, 5841, 5842, and 5843.
See https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/t3010/t3010-23e.pdf
If you answer "Yes" on Line 5841, you must also complete the new Form T1441, Qualifying Disbursements: Grants to Non-Qualified Donees at https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t1441.html
The Guide T4033, Completing Form T3010 Registered Charity Information Return will also be updated in the near future and will provide instructions on how to complete the new T3010 and T1441.
You must use the updated version of the T3010 when filing your charity’s return. If you already filed a return for your fiscal period end, you do not need to refile with the new form
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