非营利性组织的注册、运营及税务特征

Registration, operation and tax characteristics of non-profit organizations

What is the Canadian Not-for-Profit Corporations Act?

Canadian Not-for-profit Corporations Act,

The NFP Act, also known as the NFP Act, is the law governing the internal affairs of federal not-for-profit corporations. It came into effect on October 17, 2011, replacing the Canada Corporations Act (CCA Part II), which previously governed federal not-for-profit corporations.

What are the benefits of forming a limited company?

  • Separate legal entity: A corporation has the same rights and obligations as a natural person, which means that a corporation can acquire assets; incur debts; enter into contracts; sue or be sued; and even be found guilty of a crime.
  • Limited liability: This means that, as a general rule, the company's members are not liable for its debts.
  • Continuing Existence: The company will continue to exist even after the death of an individual holding an important position such as the chairman of the board of directors.
  • Tax advantages: You can contact the Canada Revenue Agency to inquire about tax benefits relevant to your situation, or you can consult the Golden Key Business Service Center.

Registered in Canada Non-profit organizations What are the benefits?

  • Canada Not-for-Profit Corporations Act: Provides new rules that are modern, flexible and better suited to the needs of today's not-for-profit organizations.
  • Name Protection: An approved federal name allows a company to operate under that name within Canada.
  • Location Flexibility: There is a degree of flexibility with respect to the province or territory in which the corporation is incorporated, the location of the register of corporate records, and the location where annual meetings are held.
  • Recognition: Federally registered companies are generally recognized as Canadian companies throughout the world.
  • High-quality customer service: Corporations Canada processes the incorporation process and all other service requests as quickly as possible.
  • Resources for Not-for-Profit Corporations: Corporations Canada has a variety of ways to help companies get up and running.

Limited Liability Company and Non-profit organizations the difference

When a business generates revenue, it may choose how to use that money. Whether it is a sole proprietorship or a partnership, the business's leaders can reinvest the money in the business, pay it out to shareholders, give them bonuses, or anything else.

In contrast, a nonprofit organization must return any income it earns to the organization. Nonprofits can pay salaries to employees and directors and may be allowed to hold some assets or cash from year to year.

Charities and non-profit organizations

Due to their nonprofit purpose, NPOs are more like charities than commercial corporations. However, while there is much overlap between the two groups, the CRA treats them very differently for tax and registration purposes.

Neither charities nor non-profit organizations are required to pay income tax, and the CRA prohibits both organizations from using their income to provide benefits to members. However, charities operate solely for charitable purposes, while non-profit organizations may operate for social welfare, entertainment, sports, or any non-profit purpose.

For example, if you create an organization that accepts donations to create scholarships for disabled youth to play basketball, you are more likely to be running a charity. However, if you run a nonprofit recreation center where youth can play basketball, you may be running a nonprofit organization.

In addition, charities face more regulation. They must register as charities; when they receive donations from taxpayers, they must issue donation receipts. At the end of the fiscal year, charities and most nonprofits must file a tax return, and nonprofits must also file a T2 form.

If you have any questions about company registration or business consultation, you can contact the Golden Key Business Development Center directly at 416-551-9990

  

  

What can we do for you?

✅ Registration services: Assist clients to complete the registration process of non-profit organizations, including preparing necessary documents, filling out application forms, etc.

✅ Legal Advice: Provide advice on the legal requirements for nonprofit organizations, including advice on organizational structure, bylaw development, etc.

✅ Tax Planning: Provide tax planning advice to nonprofit organizations to help them minimize their tax burden.

✅ Financial Management: Provide financial management services, including accounting records, budget preparation, financial reporting, etc., to help organizations maintain good financial status.

✅ Donation Management: Help organizations establish an effective donation management system to ensure the rational use and transparency of donated funds.

✅ Government reporting: Assist organizations to complete necessary government reporting procedures, including annual reports, tax filings, etc.

✅ Project Management: Provide project management support to assist organizations in planning and executing projects to ensure project objectives are achieved.

✅ Public Relations and Advocacy: Providing public relations and advocacy support to help organizations increase their visibility and expand their influence.

If you want to register a company as soon as possible but don’t know how to do it, please contact Wang Ke Accounting Firm as soon as possible!

 

 

 

What are the benefits of having us register your company and handle your taxes?

♻️   Tax Optimization

Our firm is familiar with the unique tax issues and preferential policies faced by nonprofit organizations and can help clients legally maximize tax benefits and exemptions, thereby improving the efficiency of fund use and the sustainable development capabilities of the organization.

🤝  Compliance assurance

Registering and operating a non-profit organization involves a variety of legal and tax regulations. Wang Ke CPA reduces your compliance risks and avoids possible fines and legal liabilities by ensuring that all operations comply with current laws and regulations.

⚠️   Financial transparency

Transparent financial reporting is key to the credibility of nonprofit organizations. Our detailed financial recordkeeping and reporting services not only meet regulatory requirements, but also enhance the trust of donors and the public.

 

Customer Testimonials

 

 

New Customer Tax Filing Service Process

Online Reservation consult

Visit our official website and click the "15-minute free consultation" button to schedule your service time.

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Prepare tax return information

Prepare all the necessary tax return documents according to the checklist we sent you by email in advance.
                                
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Zoom Video Conferencing

At the scheduled time, meet online with our professional team of accountants via Zoom to ensure all information is complete and answer any questions you may have.

 

Why choose us?

✅ Technology leadership
Use cloud computing and automation tools to improve data security and access efficiency. 


✅ Fair price
Transparent fees and efficient processes effectively reduce the financial burden on small businesses.


✅ Industry expertise
We customize professional tax strategies for small businesses in multiple industries to optimize financial benefits.


✅ Quality service
Respond to customer needs quickly, update information in a timely manner, and enhance customer trust.


✅ Compliance assurance
Our professional team is well versed in the latest tax laws and ensures that financial reporting is compliant.

 

Our professional team will ensure

All steps and documents are reliable and complete

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