November 15th, 2011
If you hear about a donation scheme that seems to good to be true….. it possibly is. Â 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. Â 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: Â http://www.cra-arc.gc.ca/nwsrm/rlss/2011/m11/nr111115-eng.html?rssFiled under: Personal Tax by David Boese No Comments »