A summary of Vantage Point's submission to the Select Standing Committee of Finance and Government Services for the BC 2021 Budget.
The most important benefit that Canadian registered charities receive is the ability to issue "official donation receipts." When a donation is made to a charity, the charity has the ability to issue a donation receipt which will be tax-deductible to the donor.
Although a charity is not legally required to issue a donation receipt, it usually does so as an incentive to donors. The charity must issue receipts with very specific information.
The Canada Revenue Agency (CRA...