Top GST/HST Issues - Charities
Presented by: Michael Monk & Anna Zurat, CPA, CGA
Do you know what the most common mistakes are that a charity might make when it comes to GST/HST? Were you aware that there are significant differences between a charity and a non-profit organization for GST/HST purposes? During this Canada Revenue Agency (CRA) presentation we will discuss these, and other issues.
In CRA’s “GST/HST Charities Outreach” workshop we detailed how CRA is helping new charities “get it right from the start”.
In this additional one-hour presentation, we will discuss some of the errors or omissions that a charity may make with respect to GST/HST, including:
Misunderstandings about rebate eligibility
Failing to follow GST/HST rules for charities after transitioning from a non-profit organization
Failing to use the special net tax calculation (NTC) for charities, when no “opt out” election is in effect
Incorrectly following all aspects of the NTC
Claiming Input Tax Credits instead of rebates only, and vice-versa
Incorrect treatment of taxable vs. exempt supplies (failing to collect GST/HST and/or collecting tax in error)
Registration for GST/HST and “Small Supplier”.