Speed Skating Canada Working to Regain Charitable Status After Missed Tax Filing
Speed Skating Canada says it is working to regain the charitable status it lost last month because of a missed annual tax filing. The Canada Revenue Agency published a notice in the Canada Gazette on Sept. 26 to note it had formally revoked the charitable registration status for Speed Skating Canada. An organization with charitable [...]
Speed Skating Canada is working to restore its charitable status, which was revoked by the Canada Revenue Agency due to a missed annual tax filing. The CRA formally announced the revocation on September 26th. Organizations with charitable status benefit from not paying federal income tax and can issue tax receipts, but must submit an annual information return within six months of their fiscal year-end.
- Speed Skating Canada lost its charitable status due to a missed annual tax filing.
- The Canada Revenue Agency published a notice of revocation on September 26th.
- Organizations with charitable status are exempt from federal income tax and can issue tax receipts.
- Charities must submit an annual information return within six months of their fiscal year-end.
- The CRA provides a 90-day window to file or object after being notified of a missed filing.
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