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This comprehensive episode, Stay On The CRA's Good Side, outlines the essential requirements for Canadian registered charities to maintain compliance with the Canada Revenue Agency (CRA).
It covers the CRA Charities Directorate's oversight role, detailing how they monitor compliance through various methods like T3010 screening and audits, and lists common triggers for reviews.
The episode emphasizes annual T3010 filing obligations, including deadlines, required schedules, and frequent errors to avoid, while also explaining the serious consequences of non-compliance.
Furthermore, it clarifies financial management requirements such as record-keeping, disbursement quota obligations, and acceptable expenditures, and details the strict rules for issuing donation receipts, including mandatory elements and common pitfalls.
Finally, the episode addresses rules around political activities, compliant business operations, working with non-qualified donees, and the necessity of notifying the CRA of organizational changes, concluding with advice on audit preparation and responding to compliance concerns.
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