Monday, June 19, 2006

Charity Village®NewsWeek: Cover Story-The GST reduction: How will it affect nonprofits?

Charity Village®NewsWeek: Cover Story: "On July 1, 2006, Canadian taxpayers will presumably rejoice as the federal government reduces the GST/HST rate by one percentage point to 6% from 7% (14% from 15% for those paying HST). To paraphrase the Conservative party's philosophy about this move: Canadian citizens deserve to keep more of their hard-earned money where it's most useful, in their own pockets. While economic pundits debate the wisdom of this move, the fact remains that it will happen and it will affect everyone, including the voluntary sector. But ask someone who works in the nonprofit community about the impending change and more often than not what you hear is a tepid response.
Understanding the reduction
Susan Mullin, CFRE, is director of development for the York University Foundation and chair of government relations for the Association of Fundraising Professionals (AFP) Canada Council and AFP Greater Toronto chapter. 'It's short-term administrative pain for some long-term gain, but not a whole lot,' she says."

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