Categories: Canada Articles

New CRA view on whether condominium corporations are exempt from tax (Canada)

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……….

Editor

Recent Posts

CINC Systems launches Cephai, the CAM Industry’s First GenAI Solution

CINC Systems, the leading provider of software solutions for the community association management (CAM) industry,…

27 mins ago

HOA rejects own committee’s recommendation (AZ)

How does the Ahwatukee Board of Management spell diversion, set-up and please let us ignore…

49 mins ago

Neighborhood dispute has HOA calling foul on youth ball field in East Sarasota (FL)

The president of a Sarasota homeowners' association is calling foul on a church's youth baseball…

50 mins ago