Summary Policy

Date
November 3, 2005

Reference Number
CSP - W03

Key Words
Winding-up period - Revocation tax

Policy Statement

Under the Income Tax Act, the winding-up period of a charity is the period that begins immediately after the day the Minister issues a notice of intention to revoke the registration of a charity or immediately after the day on which it has been determined that a certificate served under the Charities Registration (Security Information) Act is reasonable, and ends on the day that is the latest of:

• the day on which the charity files Form T2046, Tax Return Where Registration of a Charity is Revoked, but no later than the day on which the charity is required to file that return,
  
  
• the day on which the Minister last issues a notice of assessment of revocation tax payable under the Act for that taxation year by the charity, and
  
  
• if the charity has filed a notice of objection or appeal in respect of that assessment, the day on which the Minister may take a collection action under the Act in respect of the tax payable.

References

• Collection, CSP-C26.
• Fiscal (period, year end), CSP-F04.
• Return - Revocation, CSP-R11.
• Revocation, CSP-R12.
• Revocation Tax, CSP-R24.
• Income Tax Act, R.S.C. 1985 (5^th supp.) c. 1, ss. 188(1.1), (1.2) and s. 225.1.
• Charities Registration (Security Information) Act, S.C. 2001, c. 41, ss. 5(1) and 7(1).