As required by subsection 149(12) of the Income Tax Act, your organization may have to file the Non-Profit* Organization (NPO) Information Return for a fiscal period ending after December 31, 1992, if it is:
An NPO, described in paragraph 149(1)(l) of the Income Tax Act is a club, society, or association that is organized and operated solely for:
Also, no part of the income of these organizations can be payable to, or otherwise available for, the personal benefit of any proprietor, member or shareholder, unless the proprietor, member or shareholder was a club, society or association whose primary purpose was to promote amateur athletics in Canada. For a more comprehensive description, see CRA's Income Tax Bulletin.
The new Non-Profit Organization Information Return is a two-page information tax return.
Organizations have to file this return:
Once an organization has filed this information return, it has to keep filing, for as long as it remains an NPO, regardless of the dollar value of its revenues or the book value of its assets.
The Non-Profit Information Return is divided into seven sections.
Section A: Identification.
Section B: Amount received during the fiscal period (you can report on a cash or accrual basis, as long as you use one method consistently).
Section C: Statement of assets and liabilities at the end of the fiscal period.
Section D: Remuneration and taxable benefits (e.g. leased vehicles and low-interest housing loans).
Section E: The organization's activities.
Section F: Location of books and records.
Section G: Certification.
The publication T4117 entitled Income Tax Guide to Non-Profit Organization Information Return shows users how to complete the return line by line. The form T1044 - Non-Profit Organization (NPO) Information Return is available on CRA Web site.
* Also known as nonprofit, non profit, not-for-profit, voluntary and volunteer organizations.
DISCLAIMER
Information contained in this section is of a general nature only and is not intended to constitute advice for any specific fact situation. For particular questions, the users are invited to contact their lawyer. For additional information, see contact(s) listed below.
New Brunswick Contact(s):
See National Contact.