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Note Where the advantage is more than 80% of the amount paid for the membership fees, it is generally considered that there is no true intention to make a gift, and a receipt cannot be issued. ...

A reduction will only be considered once the charity has exhausted all other available means to make up the shortfall such as: applying any available excesses from the previous five years to cover the shortfall; and/or creating a disbursement quota excess in the next year and carrying it back to cover the shortfall. ...

The term resources is not defined in the Act, but is considered to include the total of a charity’s financial resources, capital assets, staff and volunteer time, and donated resources. ...

If a member can participate in the band or choir activities regardless of the amounts he/she raises, those amounts will likely be considered gifts. ...

The Federal Court of Appeal and the Tax Court of Canada have considered these arrangements and, in the majority of cases, have concluded that the employment income at issue was not exempt from tax under section 87 of the Indian Act. ...

Example – Gifts and awards taxable benefit calculation Example If you give your employee two valid gifts or awards with a combined total fair market value of $700, a mug valued at $5, a valid long service award valued at $475 and finally, a gift of $200 in cash, the calculation would be as follows: Example – Calculating the taxable fair market value of gifts and awards Item Column A – FMV of the Gift or Award Column B – FMV of the Long Service Award Column C – FMV when item falls outside our gifts and awards policy Gift 1 $250 Gift 2 $450 Long service award $475 Gift-Cash $200 The $5 mug is of trivial value and is not considered a taxable benefit. ...

Deemed dividends What amounts are considered deemed dividends and how do you calculate them. ...

Options Security options are considered a non-cash benefit, so they are not insurable. ...

The personal use of the vehicle is considered a taxable benefit for the employee. ...

Complete Form T2091(IND) if you: sold, or were considered to have sold, your principal residence, or any part of it; or granted someone an option to buy your principal residence, or any part of it. ...