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As has been reported in various outlets this week, the CLA did in fact pull out of this tax shelter program five years back when concerns over its structure and the CRA's crackdown on such programs arose, the CLA themselves saying in this week's issued statement, "Upon the first indication and legal opinion that the CLA's involvement in the programs Nike Blazer Red And Black may be deemed inappropriate the organization ceased to continue participating for fear of not abiding by the Income Tax Act."
Thedecision came down early on Monday, the CRA ruling that the CLA's actions were part of a tax shelter scheme, a similar decision levied on both Little League Canada and Football Canada in recent years, both organizations having their charitable status stripped by the government as well.
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$100,000 annually, about 10 per cent of the association's annual budget."
Earlier this week reports surfaced through various major media outlets throughout Canada that the Canadian Lacrosse Association has had its status as a registered amateur athletic association revoked by the Canada Revenue Agency, no longer allowing the organization to issue donation tax receipts to individuals, previously issuing $60.7 million in receipts that the CRA has deemed to be "abusive transactions."
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The CLA has stated several times that they have complied fully with the CRA during their investigation all the way leading up to this week's final decision.
Although the CRA would not comment fully on the specifics of the decision, CRA spokeswoman Caitlin Workman didaddress media, saying, "The CRA is looking at all these tax shelter gifting arrangements and we are auditing every one, and we are reassessing the taxpayers that donate to every one, so taxpayers should be very careful when they're looking at donating somewhere."
quoted in a statement issued by the lacrosse association, "we did not consciously go into this with contempt and fraud, rather being a poor non Olympic sport we focus on ways to raise additional funds to support the children, parents, coaches, officials and elite athletes who love our game and want to see it flourish. It is frustrating to see that the system makes it financially impossible for an organization such as ourselves to fight this ruling given that it would cost ten times more to win versus what we would lose in the donation aspect."
The Globe and Mail reported that the tax shelter structure the CLA was operating under, "was in line to receive more than $20 million after 20 years, with annual royalty Buy Nike Basketball Shoes Online Cheap
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