
We can help you setup and maintain your non-profit organization's tax exempt status by handling all the CRA reporting for you.
Each year CRA requires most tax-exempt organizations to submit Forms or tax returns if incorporated, which include the following items.
1. Financial Statement statements should include at least:
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a statement of assets and liabilities (balance sheet)
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a statement of revenue and expenditures (income statement)
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any prepared notes, such as:
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accounting policies (for example, depreciation rates)
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details of investments (for example, maturity dates and interest rates)
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sources of revenue (for example, type of government grant)
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transactions with non-arm's length parties
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information about funds that a donor has directed you to hold for 10 years or more future obligations
2. CRA Return Form T3010 for charities and Form T1044 for Non-profits
3. GST returns and Payroll tax if applicable
Here's what we can do for you...
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Review and compile your financial statements
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Design, install and maintain your Accounting System
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Provide training for your accounting personnel
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Complete and file your non-profit status application and returns
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Provide training for your board on non-profit financial statements usage and effective budget practices
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Schools: we complete the ES Audit for you.
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Churches: we prepare the pastoral housing allowance and other required benefit documents.
If you are starting a new not-for-profit organization we can help you prepare your organization's application for tax-exempt status.