Summary Policy

Date
October 25, 2002 (Revised September 13, 2005)

Reference Number
CSP - F04

Key Words
Fiscal (period, year end) - Taxation year (deemed year end)

A registered charity's taxation year is a fiscal period. A fiscal period is the 12 months (or, for incorporated organizations, a period of up to 53 weeks) covered by an organization's financial statements.

A fiscal period end or year end is the date on which the period covered by the organization's financial statements ends.

A charity's taxation year is deemed to end on the day the CRA issues a notice of intention to revoke or on the day that it is determined that a certificate served under the Charities Registration (Security Information) Act is reasonable.

• Change of Fiscal Period, IT-179.
• Income Tax Act, R.S.C. 1985 (5^th supp.) c. 1, ss. 149.1(1), 188(1) and 249.1(1).
• Income Tax Regulations, C.R.C. 1978, c. 945, ss. 216(2).
• Charities Registration (Security Information) Act, S.C. 2001, c. 41, ss. 5(1) and 7(1).