The short answer is that no one really knows. I asked Industry Canada to comment on this “The number of CCA corporations is commonly said to be 19000. It is actually about 25,000 on the rolls of IC but some of those are thought to be inactive because they have not filed in a very long time. Hence the lower number of 19,000. The number of corporations that are up to date in their corporate filings is about 13,000 although some corporations that may be active may not be up to date in their corporate filings. The number that are expected to continue is somewhere between 13-19,000.”
The response from Industry Canada was “Your assessment of the numbers is correct. We are now using 17000 instead of 19000, but both are a guess. As for transitions, they are up, but still slow. April to August this year produced more transition applications than all of last fiscal year (Apr 2012 to Mar 2013), but the total is still low. Take up of online filing for the NFP Act has been fast with notices of directors and change of registered office address near 60% since its late June release. Annual returns, released in late January, are between 80 and 90%. So clients like filing online and are working on transitions, but there is still likely to be a big crunch unless we start getting a lot this and every future month.”
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Mark Blumberg is a partner at the law firm of Blumberg Segal LLP in Toronto and works almost exclusively in the areas of non-profit and charity law.