The Canada Revenue Agency Gets Physical: "When the federal government announced its budget on June 6, one of the measures within it made Registered Canadian Amateur Athletic Associations (RCAAAs) sit up and take notice.
On June 10, Cathy Hawara, the Canada Revenue Agency's Charities Directorate executive director, issued the following statement on her organization's website regarding the Regulatory Regime Enhancements for RCAAAs:
'[T]he budget proposes to apply many of the existing registered charity rules to RCAAAs. It also proposes new eligibility requirements for individuals who are directors or who control or manage registered charities and RCAAAs. In addition, certain other qualified donees will be subject to new record-keeping requirements, and there are rule changes affecting particular types of gifts. Finally, the Department of Finance Canada has also announced that it will be consulting on a budget proposal to change the definition of an RCAAA.'
So what does this mean for these associations going forward?"
Wednesday, June 29, 2011
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