If you hear about a donation scheme that seems to good to be true….. it possibly is.  Over the past several years there have been donation schemes where you can give a donation of, say $1,000 and get a donation receipt for an amount somewhat greater than that.

The Canada Revenue Agency has been aggressively seeking out and revoking the charitable status of charities that participate in fraudulent donation schemes.  They also do not hesitate to reassess taxpayers’ personal tax returns if they are found to have participated in the scheme.

Here’s a recent example of a charity caught in a scheme:  http://www.cra-arc.gc.ca/nwsrm/rlss/2011/m11/nr111115-eng.html?rss

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Tax humour


November 15th, 2011

Q. What’s the difference between an introverted and an extroverted accountant?

A. An introverted accountant stares at his shoes while he is talking to you.  An extroverted accountant stares at your shoes while he is talking to you.

Q. Why do accountants get excited on the weekends?

A. Because they are allowed to wear casual clothes to work.

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