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 [...]
TL;DR
- 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.