Charities relieved after Canada Revenue Agency says additional reporting for ‘internal trusts’ not needed

Author Gabe Oatley
“This is…a good example of why there’s a need for a home in government for the charitable sector.”

Why It Matters

Some charities had feared new Income Tax Act rules would require them to provide additional reporting that was difficult to collect and could hamper fundraising. But experts say these concerns have now been alleviated.

Charity leaders are breathing a little easier after the Canada Revenue Agency said Friday it would not require charities to provide more detailed information for so-called internal trusts in their annual tax filings. “It’s a big relief,” said Bernadette Johnson, director of advocacy for Imagine Canada, the charitable sector’s largest association, which had been pushing for clarity on the issue for months.

Future of Good journalism and events produce insightful analysis and knowledge you need to work and grow.

Read this article with a free account or explore membership options for unlimited access.