Tax and Financial Responsibilities – Canada
- Understanding Taxes for Nonprofits
- Record Keeping Requirements
- Keeping Records, CRA RC4409
- Understand Critical Tax Distinctions:
- Independent Contractors vs. Employees, CRA RC4410
- Budget Your Events
- Annual reporting to Independent Contractors and Employees
- Employees receive: Form T4
- Independent Contractors receive: Form T4A
Tax Reporting – Business
As secretary-treasurers seek compliance with authoritative regulations, they must be aware of federal, provincial and local laws. We encourage you to contact the Canada Revenue Agency (or Revenue Quebec if you’re in Quebec) and consult with a local Chartered Accountant for your relevant provincial and local laws; the information below is a comprehensive outline of information relevant to federal compliance.
- Non-Profit Organization Guidance
- Payroll, Employer’s Tax Guide, T4001
- Taxable Benefits & Allowances, T4130
- Income Tax Act Section 6
- Filing the annual form: Form T1044
- GST/HST filing
Tax Reporting – Individual
Since the local’s tax reporting practices directly influence the individual Employees’ and Independent Contractors’ tax reporting, we have provided a condensed number of resources. Every individual in Canada is responsible for his/her own tax records, and for seeking guidance on unclear items. Please note that provincial and local tax regulations and obligations may also apply.
- Annual filing of CRA Form T1
- Income Tax & Benefit Guide, CRA Pub 5000-G