Donations by Canadians to Prescribed Universities Outside Canada (Schedule VIII) Rc191-07
Posted under Canadian Charity Law
CRA has prepared two publications namely Donations by Canadians to Prescribed Universities Outside Canada (RC191-07) and Information for Educational Institutions Outside Canada (RC190-07). These recent publications will be of interest to foreign universities interested in fundraising in Canada and Canadian students studying at certain prescribed foreign universities.
Essentially Canadian individuals and trusts may in certain cases claim a non-refundable tax credit when they donate to certain “prescribed” universities outside Canada. As well corporations may be able to deduct a donation to these “prescribed” universities. The list of prescribed universities is located in Schedule VIII of the Canadian Income Tax Regulations under the Canadian Income Tax Act.
Links to the documents at the CRA website are Donations by Canadians to Prescribed Universities Outside Canada (RC191-07) and Information for Educational Institutions Outside Canada (RC190-07).
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The links in the article do not appear to work.
I would like to see if our university made the Schedule VIII list.
[Mark - CRA sometimes changes the links - if you are interested in whether your foreign universities is listed see this new link from CRA with a list of the foreign prescribed universities http://www.cra-arc.gc.ca/chrts-gvng/qlfd-dns/qd-lstngs/prscrbdnvrsts-lst-eng.html Also if you would like assistance in having your university added to the list then we can assist with that. Probably more importantly make sure that if you are on the list that you are issuing “official donation receipts” to Canadian donors according to the rules]
Where do you include these donations? Do you lump them in with the rest of your Canadian donations, or do you include them with US Donations?
[MB - Will - see Schedule 9 -Donations and Gifts (line 3) at http://www.cra-arc.gc.ca/E/pbg/tf/5000-s9/5000-s9-12e.pdf Hope that helps]