Glossary: R

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  • Real Property

    Description: Land, and buildings or other structures permanently attached to land.

    Examples: A family home, a cottage, or a vacant piece of land.

    The value of real property for tax receipt purposes is its fair market value. You should almost always get an appraisal or valuation from a professional real estate appraiser to support the gift.

    Real property located in Canada is not subject to the deemed fair market value rule, but property outside Canada is.

    Special case: For gifts of ecologically sensitive land, you should refer to the Canadian Ecological Gifts Program.

  • Registered

    An organization has applied to the CRA and received approval as meeting the requirements for registration as a charity, and has been issued a charitable registration number.

    A registered charity is exempt from paying income tax and can issue official donation receipts for gifts it receives. However, if a registered charity is under suspension, it no longer has receipting privileges during the suspension period.

    A registered charity is designated by the CRA as a charitable organization, a public foundation, or private foundation.

    (CRA : Charities Glossary)

  • Resources

    A charity’s resources include all its financial assets, staff, volunteers, directors, premises, and equipment.

  • Revoked

    Registration as a charity or Canadian amateur athletic association has been cancelled and the privileges that go with it have been taken away. The organization can no longer issue official donation receipts and is no longer eligible to receive gifts from registered charities.

    Registration as a charity or Canadian amateur athletic association is officially revoked when a notice is published in the Canada Gazette.

    Registration may be revoked because the charity or Canadian amateur athletic association:

    • chooses to give up its registration (voluntary revocation);
    • does not file its annual return or does not file it on time (revocation for failure to file); or
    • is found to be non-compliant with the requirements for registration under the Income Tax Act (revocation for cause).

    (CRA : Charities Glossary)

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