Bill C-4 received Royal Assent on June 19, 2017.
This new bill repeals measures that were previously enacted in Bill C-377, which required labour organizations and labour trusts to file annual reports with the CRA to disclose detailed financial data and information on political, lobbying and other non-labour relations activities. It also required the CRA to make that information publically available.
Bill C-4 received first reading on January 28, 2016.
Bill C-377 came into force on December 30, 2015, and obligated labour organizations and labour trusts to track their activities for fiscal years beginning on or after December 31, 2015. However, on December 21, 2015, the CRA waived Bill C-377's reporting requirements for fiscal periods starting on December 31, 2015 and through 2016. The CRA later extended this waiver to cover fiscal periods starting in 2017.
For more information, contact your KPMG adviser.
Information is current to June 27, 2017. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500