Speed Skating Canada working to regain charitable status after missed tax filing
OTTAWA — Speed Skating Canada says it is working to regain the charitable status it lost last month because of a missed annual tax filing.
The Canada Revenue Agency published a notice in the Canada Gazette on Sept. 26 to note it had formally revoked the charitable registration status for Speed Skating Canada.
An organization with charitable status under the Income Tax Act doesn’t pay federal income tax and can issue tax receipts to donors which allow them to claim tax credits. Organizations registered as charities must submit an annual information return within six months of the end of their fiscal year.
In a statement to The Canadian Press, the CRA said before it revokes charitable status it sends out a notice informing the organization a filing was not received on time. After that point, organizations have 90 days to file or to object to the revocation.