By Terrance S. Carter, Urshita Grover, Adriel Clayton and Cameron A. Axford

A. INTRODUCTION

On December 16, 2024, the Department of Finance (“Finance”), released the Federal Government’s long-awaited 2024 Fall Economic Statement.1 While not the focus of the 2024 Fall Economic Statement, there are a number of items which are of significance to both the charitable and not-for-profit (“NFP”) sector. Specifically, the 2024 Fall Economic Statement proposes changes to reporting requirements for non-profit organizations (“NPOs”), confirms the Federal Government’s intention to proceed with relevant legislative proposals relating to tax measures and reproductive service charities, and states that the Government will initiate consultation and dialogue with NPOs regarding anti-money laundering/anti-terrorist financing practices and initiatives.

To read more, please see Charity & NFP Law Bulletin No. 530.