Banyan Tree Foundation affidavit by Vern Krishna makes interesting reading
Posted under Canadian Charity Law | Ethics and Canadian Charities | Avoiding 'Charity' Scams
Vern Krishna, a very respected Canadian tax lawyer, a few months ago provided an interesting affidavit on the lawsuit against Fraser Milner Casgrain and others with respect to the Banyan Tree Foundation at http://www.classactionlaw.ca/content/claims/Rochester/Supplementary%20Motion%20Record%20re%20Vern%20Krishna%20Affidavit.pdf All allegations have yet to be proved in court
Here is another copy of the Vern Krishna affidavit. In the affidivit Mr. Krishna discusses what is a gift, donative interest, various cases on gifts to charities under the Income Tax Act and his concerns with a legal opinion on donations to a charity as part of the Banyan Foundation scheme.
This article is for information purposes only. It is not intended to be legal advice. You should not act or abstain from acting based upon such information without first consulting a legal professional.