The federal government’s 2024 Fall Economic Statement is proposing significant changes to reporting requirements for non-profit organizations (NPO) in Canada.
Currently, a non-profit organization must file an annual information return with the Canada Revenue Agency if any one of the following three conditions are met:
- Total passive income (interest, dividends, rents, royalties) exceeds $10,000 in the fiscal period
- Total assets reported in the organization’s financial statements for the previous fiscal period exceeded $200,000
- The organization was required to file an information return for a prior fiscal period
The following two additional NPO filing conditions are proposed to be added, effective for 2026 and subsequent years:
- The organization’s gross revenue in the fiscal period exceeds $50,000
- If none of the above four conditions are met, a new short-form return will be required to be filed that contains basic information such as the organization’s name, address, directors and officers, description of activities and the organization’s assets, liabilities and revenues
Glen MacMillan, Tax Partner
For assistance with your charity and NPO compliance needs, contact a member of the Adams + Miles team today.
