The Canada Revenue Agency has issued three new info sheets which provide information specific to registered charities and public institutions.
GST/HST Info Sheet GI-066, “How a Charity Calculates the Net Tax to be Reported on its GST/HST Return” explains how a charity calculates the net tax to be reported on its GST/HST return. Most registered charities that are registered for GST/HST purposes are required to file an annual GST/HST return, regardless of their revenues.
GST/HST Info Sheet GI-067, “Basic GST/HST Guidelines for Charities” provides general guidance on how GST/HST applies to charities. The info sheet provides definitions of relevant terms, including how a charity is defined for purposes of the Excise Tax Act. In addition, details are provided on registration requirements for charities and how a charity may be able to recover GST/HST on certain purchases.
GST/HST Info Sheet GI-068, “Basic GST/HST Guidelines for Public Institutions” provides basic information on some of the common issues public institutions encounter in the application of GST/HST to their organizations. A “public institution”, is a registered charity (as defined by the Income Tax Act) that is a school authority, a public college, a university, a hospital authority or a local authority determined by the Canada Revenue Agency to be a municipality.