n August 18, 2014, CRA issued a new document that deals with the tax implications of a leasing arrangement between a condo corporation (the “Corporation”) and a company proposing to install solar panels on several rooftops of the condominium complex. CRA was asked to consider whether the leasing arrangement would cause the Corporation to fail to meet the test to be a “non-profit organization” pursuant to paragraph 149(1)(l) of the Income Tax Act (Canada) (the “Act”). Read more……….
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