October 19, 2021 will bring changes for both not-for-profit and for-profit entities in Ontario. First, the Ministry of Government and Consumer Services will launch the OBR on October 19, 2021. Second, on October 19, 2021, and after more than 10 years, the ONCA comes into force. During that long wait, other Canadian jurisdictions have modernized their not-for-profit statutes. For instance, federally, the Canada Not-for-profit Corporations Act came into force in 2011, and British Columbia’s Societies Act came into force in 2016.
Here is a reminder we just received from Corporations Canada relating to AGMs in 2021 for CNCA corporations and that they can be done virtually, partially virtually or by unanimous resolution in many cases.
Apply for property tax rebates if your organization is a qualifying charity or other not-for-profit. In addition to COVID-specific government relief which may be available, municipal property tax rebates may be a valuable source of cashflow as not-for-profits navigate the impact of COVID-19 on revenues.