ENGAGE ONLY IN ALLOWABLE ACTIVITIES– A registered charity is allowed to carry out its charitable purposes both inside and outside Canada in only two ways: by carrying on its own charitable activities, and
- Charity Accountant Woodbridge
by gifting to qualified donees. A registered charity must maintain direction and control over its activities (whether carried out by the charity, or by an agent or contractor on its behalf) and must not engage in prohibited political activities or unrelated business activities, Charity Accountnat GTA.
KEEP ADEQUATE BOOKS AND RECORDS – A registered charity must keep adequate books and records for the prescribed time period, in either English or French, at an address in Canada that is on file with the Canada Revenue Agency (CRA).
ISSUE COMPLETE AND ACCURATE DONATION RECEIPTS – A registered charity may only issue official receipts for donations that legally qualify as gifts. An official receipt must contain all the information specified in Regulation 3501 of the Income Tax Act. See sample receipts.
MEET ANNUAL SPENDING REQUIREMENT (DISBURSEMENT QUOTA) – A registered charity must spend the minimum amount calculated for its disbursement quota each year on its own charitable activities, or on gifts to qualified donees (for example, other registered charities).
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