August 2, 2014
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Jul 4, 2014 – July TO DO List
- June payroll liabilities due July 15.
- If your fiscal year end is December 31 and if you missed the June 30 submission date for your Annual Charities Return Form T3010, make it a priority to submit it immediately. Failure to submit the return could result in cancellation of your charitable status.
Jun 25, 2014 – JUNE 30 DEADLINE FOR T3010 IS FAST APPROACHING
The deadline for filing the Registered Charity Information Return, Form T3010, is June 30th for those with a fiscal year end of December 31.
June 30th is not the due date for submitting Form T3010 but is the due date by which it must be in the hands of CRA. Therefore, you are advised to mail it at least a few days before June 30th.
Jun 6, 2014 – June TO DO List
- May payroll liabilities due June 15. Since this date falls on a Sunday, the due date shifts to the next business day which is Monday June 16.
- The deadline for the Annual Registered Charity Information Return, Form T3010, is June 30th for those with a fiscal year end of December 31.
June 30th is not the due date for submitting Form T3010 but is the due date by which it must be in the hands of CRA. Therefore you are advised to mail it at least a few days before June 30th.
Dec 30, 2013 – Automobile Deductions and Expenses for 2014
The Honourable Jim Flaherty, Minister of Finance, today announced the automobile expense deduction limits and the operating expense benefit rates will remain unchanged for 2014.
The limit on the deduction of tax-exempt allowances paid by employers to employees using their personal vehicle for business purposes for 2014 will remain at 54 cents per kilometre for the first 5,000 kilometres driven and 48 cents for each additional kilometre.
The rates for Yukon, the Northwest Territories and Nunavut are traditionally set 4 cents higher and they will also remain unchanged for 2014 at 58 cents for the first 5,000 kilometres driven and 52 cents for each additional kilometre.
The rate used to determine the taxable benefit for the personal portion of automobile operating expenses paid by employers for 2014 will remain at 27 cents per kilometre. The automobile standby charge for employer-provided vehicles, which is not affected by this announcement, is calculated separately and is also included in the employee's income.
While the above will be sufficient for most churches, additional details for specific situations including capital cost allowance, leasing costs, interest costs, etc. may be viewed on the Department of Finance Canada website.
Apr 3, 2013 – First-Time Donorís Super Credit
For first-time donors, last week's budget proposes to introduce a temporary supplement to the existing non-refundable tax credit for charitable donations by individuals. The new credit can be claimed once from the 2013 to 2017 taxation years.
Yesterday the Canada Revenue Agency (CRA) posted a Question and Answer type document which will assist you with answering questions you may receive from your congregation and other donors. The document can be viewed at:
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