On Friday 12 July 2002 16:21, Matthew Rice wrote: > M Taylor <[EMAIL PROTECTED]> writes: > > > Apparently, there's also a lot more red tape once you become a > > > charity (it may be worth it, I dunno). > > > > The benefits are twofold, no income tax, and tax receipts. > > Only the latter is exclusive to a charity. A non/not-for profit > doesn't pay taxes either.
A Non profit can give receipts, they just can't be used as a charitable deduction. They can be claimed as a business expense. To become a registered charity you must be involved with charitable work. There is a very strict definition of what is considered charitable. There are also much stricter accounting, auditing and reporting rules. --------------------------------------------------------------------- To unsubscribe, e-mail: [EMAIL PROTECTED] For additional commands, e-mail: [EMAIL PROTECTED]
