I am going to work within a non-profit organization in BC Canada. So I want to know more about it.
What is a Non-Profit Corporation?
A non-profit corporation is a legal entity separate from its members and directors formed for purposes other than generating a profit to be distributed to its members, directors or officers. While a non-profit corporation can earn a profit, the profit must be used to further the goals of the corporation rather than to pay dividends to its membership. Non-profit corporations are formed pursuant to federal or provincial law. A non-profit corporation can be a church or church association, school, charity, medical provider, activity clubs, volunteer services organization, professional association, research institute, museum, or in some cases a sports association. Non-profit corporations must apply for charitable status to benefit from tax-exempt status and to issue tax-deductible receipts to donors.
Non-profit corporations are distinct from business corporations that are formed to make a profit and to distribute the profit to their shareholders. Business corporations are regulated by either federal or provincial laws.
Continue reading “Non-Profit Organization in Canada”
The insurance industry and government have a long tradition of working together in a social contract to provide relatively seamless compensation to citizens who suffer devastating losses of property. The insurance industry takes most of the risks (e.g., fire, theft, windstorm). Government mitigates others through public policies such as land-use laws, regulations, and zoning that prohibit people from building in high-hazard areas such as flood plains. For the thin band of situations that fall between insured perils and prohibited activities, the provincial government provides a limited amount of compensation through the Disaster Financial Assistance (DFA) program. When its costs exceed a predetermined threshold per capita of the affected population, the provincial government may request financial assistance from the federal Disaster Financial Assistance Arrangements program. These requests must be made by the province within six months of the end of the event.
BC province has a program, Disaster Financial Assistance (DFA) program. The provincial government may declare the event eligible for DFA, following a disaster. Once declared, the DFA program may compensate individuals for essential uninsurable losses.
What are the essential uninsurable losses?
Look, the essential uninsurable losses. They are essential to your home, livelihood or community service.
It does not pay for:
- Loss or damage for which you could have obtained insurance
- Recreational or seasonal residences
- Luxury goods
- Land that has been lost through erosion
How much help is available?
- If your claim is accepted, DFA will compensate you for 80% of the total eligible damage that exceeds $1,000 to a maximum claim of $30,000.
- Your claim can not exceed the cost to replace or repair essential items and property to their immediate pre-disaster condition.
Do you eligible for DFA?
You are eligible for DFA assistance if items essential to your principal residence, business, farm or charitable organization have been damaged in an eligible disaster, and if you are a:
- Residential tenant
- Small business
- Farm owner
- Charitable organization
- Local government
Continue reading “Disaster Financial Assistance”
It is a new type of Tax Benefit for BC family.
If you received the CCTB (Canada Child Tax Benefit) and National Child Benefit Supplement, for low income family, you may receive BC Early Childhood Tax Benefit.
there are approximately 180,000 B.C. families that are now receiving up to $55 per month, or $660 a year, for each child under the age of six. As part of the B.C. Early Years Strategy, the B.C. government is committed to improvin gthe affordability of child care and assisting families with the cost of raising young children.
This benefit is Tax Free.
To apply or get more information about it, click the link below to British Columbia Government site.
It is a time to check your property value assessment of 2012.
Here are some very important facts of Assessment.
Continue reading “BC Assessment release 2012 assessment details”
Letter from BCLC said, The final draw for Canada’s Lotto Super 7 game will be held on September 18, 2009.
To ensure all prize money from the final Lotto Super 7 draw is distributed, if the September 18, 2009 jackpot is not won, the jackpot will roll down and be shared amongst the winners in the second-prize category. If there is not a winner in the second-prize category the jackpot will roll down to the third-prize category. Players will receive $2.00 for any Lotto Super 7 Free Play won on the final draw or unclaimed prior to September 19, 2009.
Keep your eye out for our newest national lottery game LOTTO MAX. LOTTO MAX tickets go on sale September 19, 2009 and will be available on PlayNow.com. The first draw will be held on Friday, September 25, 2009.
Continue reading “Super7 retired and LOTTO MAX comes”
Today is voting day for BC. No matter which party you support, please go to vote.
The polls are open and British Columbians are on their way to school gyms and church basements across the province to pick their next government. Polling stations will be open on Tuesday from 8 a.m. to 8 p.m. Pacific Time and 9 a.m. to 9 p.m. in the Mountain Time zone. via CBC.ca
Some candidates’ party shown below: