Not-for-profit Tax Services:

Not-for-profit tax services necessitate a thorough understanding of the complexities associated with this particular taxation. Naicker & Associates, in Burnaby, provide the experience and expertise required to ensure your organization benefits as much as possible.

Tax Preparation and Planning

We prepare annual tax and information returns for not-for-profits and charities as required by Canada Revenue Agency, including:

  • T2 Corporate Income Tax Return
  • T1044 Non-Profit Information Return
  • T3010-1 Registered Charity Information Return

Financial Statements

We provide the following financial statement preparation and assurance services for not-for-profits and charities:

Compilation Engagement (Notice to Reader)

  • We use the information provided by the organization to prepare the financial statements, but do not “review” or “audit” this information.

Review Engagement

  • We review the financial statements to establish that the statements are credible and not misleading. Also, we ascertain that nothing has come to our attention that would indicate the statements were not prepared in accordance with Canadian accounting standards.

Audit Engagement

  • In an audit engagement, we provide an independent and objective opinion that the financial statements fairly present the organization’s financial position, financial performance and its cash flows.

Other Services

Other services we provide to not-for-profit and charities are:

  • Review or audit of internal controls
  • Forensic audits
  • Feasibility studies

If the organization has no requirement for annual audited financial statements, a compilation or review engagement may be sufficient. Requirement for an audit is identified in an organization’s Charter or incorporation documents. Also, a motion to require an audit may be approved by the general membership. This would be stated in previous annual general meeting minutes and should be approved each year.

Our Advice

“Ensure your estate plan has considered ALL the angles”
Noallan N. Naicker, CGA

Interested in additional planning or advice?

Contact Naicker & Associates for a non-committal consultation. Experience the results of our comprehensive tax services.