New deadline for 2024 charitable donations will be February 28, 2025
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Assumes the legislation will pass…
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Not looking too likely now
Same with the capital Gains 2/3 is dead in the water
Sure is not helpful for anyone who has been planning based on “what is to be sometime.”
Maybe. Won’t know until after March 24. Be interesting to see if it becomes a campaign issue.
The bill that had it in it is now scrapped they have to start from nothing again
Going to be a nightmare for charities, too. Should they issue 2 donation receipts? One for Jan.- Dec./24 and another for the stub period in 2025? Given that so many smaller charities (eg. churches) operate with volunteer treasurers with limited to no accounting training, I can see a nightmare in the works for this spring. I remember, before the United Church of Canada offered payroll services to its members, I requested corrected T4 slips twice before I finally gave up and filed with the third T4, none of which were likely filed with CRA by the church. Reminiscent of the Credit Union who screwed up a client’s RRSP receipt, and “corrected” it by scratching over the original numbers, writing in the corrected numbers, and initialling the finished product. Again, nothing submitted to CRA.
It’s not, because a ways and means motions was tabled (for the 2/3) so CRA will still administer it until whatever government directs them to stop. They said yesterday that the forms will be all up and running by Jan 31.
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