Tag Archive: taxes

on July 21, 2014 in World News

List of charities undergoing tax audits

List of charities undergoing tax audits related to political activities Some Canadian charitable organizations under recent audit for their political activities. Revenues and percentages based on the groups’ most-recent filings with Canada Revenue Agency. Rules dating from 2003 limit spending on political activities to no more than 10 per cent of all expenses: Pen Canada, Toronto Charity for freedom of expression, 2011-2012 revenues of $311,000; zero per cent of expenses for political activities. Audit began in July 2014, includes political activities. Continues. Tides Canada Foundation, Vancouver Environmental foundation, 2012 revenues of $16.3 million; zero per cent of expenses for political… View Article

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on August 10, 2013 in World News

Americans rejecting US citizenship as tax hikes loom

Americans rejecting US citizenship as tax hikes loom The number of Americans who decided to renounce their citizenship in the second quarter of 2013 increased sixfold the same period in 2012, a number the federal government attributes to strict impending financial disclosure rules. The United States is the only country out of 34 in the Organization for Economic Co-operation and Development (OECD) that continues to tax citizens regardless of where they live around the world. Now, facing a high national debt and drastic cuts in government spending, US tax enforcers are employing stricter asset-disclosure laws under the Foreign Account Tax… View Article

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