In order to qualify as a non-profit organization, the following must be met:
- Not a charity
- Organized for the purpose of civic improvement, social welfare, pleasure, or recreation
- Operates for the purpose of civic improvement, social welfare, pleasure, or recreation
- No income is available to members, shareholders, or proprietors.
Both non-profit organizations and charities share very similar characteristics, but they are different when it comes to taxation. Charities must register with the CRA to get certain tax advantages, but a non-profit organization does not need to do so. As soon as a charity has completed registration with the CRA and it is approved, they are officially tax exempt and can begin providing donation receipts. A non-profit organization can not issue donations receipts.
Assuming the non-profit organization meets all the requirements, they are exempt from tax for the portion of the year where they qualify. For non-profit, they do not file a traditional tax return, instead they file a Non-Profit Organization Information Return (NPO).
For GST/HST remittance purposes, Non-Profit organizations are given exemptions. These exemptions are based on the type of services and goods that are provided. If an organization gives goods and services free of charge than they are not required to remit GST/HST for these supplies.
This is general comment, and you should contact Tax Partners for any questions by sending an email to [email protected] or (905) 836-8755.
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