July 22, 2024
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Jul 5, 2024 – July TO DO List
- June payroll liabilities due July 15.
- Submit your application for the GST/HST Rebate for the period of January-June, 2023.
Jun 7, 2024 – June TO DO List
- May payroll liabilities due June 15. Since this date falls on a Saturday, the due date shifts to the next business day which is Monday June 17.
- 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 unless you are submitting it online.
May 3, 2024 – May TO DO List
- April payroll liabilities due May 15.
- The June 30th deadline for the annual Registered Charity Information Return T3010 is fast approaching for those with a fiscal year end of December 31. If you have not yet started the process, be sure to set aside enough time to complete it properly.
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
https://www.canada.ca/en/department-finance/news/2023/12/government-of-canada-announces-2024-automobile-deduction-limits-and-expense-benefit-rates-for-businesses.html
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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