Charitable Agreement Statement Form Co-1
Description
How to fill out Charitable Remainder Inter Vivos Unitrust Agreement?
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FAQ
The Income Tax Act does not define "charity" and Canada uses a common law definition, namely purposes that fall within the four "heads" of charity: the relief of poverty, the advancement of education, the advancement of religion, or other purposes that benefit the community in a way the courts have said are charitable.
There are three types of qualified charities: public charities, private foundations and private operating foundations.
These are the purposes of: advancing health, education, religion, culture or social or public welfare. promoting or protecting human rights, and. other purposes beneficial to the public.
These are the purposes of: advancing health, education, religion, culture or social or public welfare. promoting or protecting human rights, and. other purposes beneficial to the public.
The Income Tax Act requires a charity to devote all its resources to charitable activities carried on by the organization itself. This requirement is referred to as the own activities test. A charity's resources include all its physical and financial resources, as well as its staff and volunteers.