Not For Profit Tax
Service in Canada
What is a not for profit organization?
Not for profit tax returns are required for every not for profit organization. Despite what most people believe, not for profit organizations are not the same as a charity. The main difference between a NPO and a charity is that charities have to be registered with the CRA and they also have to operate strictly for charitable purposes.
A NPO can operate for social and welfare reasons and does not need to focus on charity exclusively. NPO’s also do not have to spend a minimum amount every year, whereas charities have to spend a minimum amount. Furthermore, NPO’s do not have a registration process like charities.
There is definitely a difference in the method through which registered charities and NPO’s file their taxes and both have to provide different forms and information.
Non profit tax returns need to be filed every year if you want your NPO to remain on the good side of the CRA.
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How do I get my not for profit (NPO) tax returns done?
Non profit organizations taxes can be done on your own, especially if you don’t run many transactions. However, if you deal with large numbers and have employees who are working for you, then it is always much safer to get in touch with an expert accountant.
At WebTaxOnline, the NPO tax return specialists do everything in their power to ensure they file your taxes in a way which helps you save the most. Running an NPO is no small task and it can get expensive. We understand that every dollar counts and our experts use their knowledge and expertise to help you save maximally on your taxes without upsetting the laws legislated in the Income Tax Act.
Our accountants are familiar with NPO profit tax benefits and can help you claim all the benefits which are applicable to you and your organization.
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Running an NPO is highly rewarding and requires a lot of work. In order to keep your NPO running, and in order to help it thrive, you should get in touch with an expert accountant today.
Calling an accountant at WebTaxOnline is the best step you could take to sort out your NPO finances and help your organization grow the way you have always dreamed it would. Call us or message us today and we will get back to you within 24 hours.