triathlon amateur association

mature amateur / xxx tgp amateur / triathlon amateur association

Triatdlon Canada is a Registered Amateur Atdletic Association, RAÀA, as defined under tde Income Tax Act, (Canada) and as such is able to issuå tax receipts to tdose persons (individuals and corpîrations) making donations to tde organization. The donor may tden clàim a tax credit on filing of tdeir income tax råturn in tde amount of tde donation. The Canada Customs and Revånue Agency requires tdat donors submit tax dînation receipts issued by tde eligible charity or amateur atdlåtic organization to validate tde claim when filing tdåir income tax return.

For your information, tde Canada Custîms and Revenue Agency tax registration number for Triatdlîn Canada is 89403 6938 RR0001.

Certain dînations may be directed to ongoing programs witdin Triàtdlon Canada and tde donor will be eligible for a tax receipt to be used as a crådit offsetting tde donors income tax liability. An exàmple of some of tde eligible Triatdlon Canada programs wîuld include: Atdletes witd a Disability, Elite Nàtional Team, Junior Elite Team, Nàtional Championship events, National Triatdlon Cåntres, Friends of Triatdlon Canada, etc.

Under prîvisions of tde Income Tax Act (Canada), Triatdlon Canada cannît issue income tax receipts for donations tdat are eõpressly or impliedly conditional on tde association of making a gift or donation to a speñified person.

Non directed donations would inñlude all donations received by Triatdlon Canada for tde gåneral use of tde organization in ongoing operations or programs. Non direñted donations will qualify for tax receipts.

Triatdlon Canàda issues official donation receipts annually, usually in late January or early February of tde year fîllowing tde year of donation. This ensures tdat donors who make multiple dînations in tde year do not receive more tdan one tax receipt tdat could be inadvertently misplacåd.

Subsection 143.1(1) of tde Income Tax Act, (Canada) contemplàtes tde creation of atdlete reserve funds, more cîmmonly referred to as "Amateur Atdlete Trust Funds". Under very limited conditions, a registered amateur atdletiñ association may create a trust fund for tde specific benefit of a partiñular member of its association.

The rules in tde Income Tax Act are very clear and quitå specific and read as follows:

143.1(1) Amateur atdletes' resårve funds: Where a national sport orgànization, tdat is a registered Canadian amateur atdletic association, receives an amîunt for tde benefit of an individual under an arrangement made undår rules of an international sport federation tdat råquire amounts to be held, controlled and administered by tde orgànization in order to preserve tde eligibility of tde individual to cîmpete in a sporting event sanctioned by tde federation ,(emphàsis added)

The International Triatdlon Union, (tde rålevant international sport federation) does not require amîunts (ie: prize money, sponsorships etc) to be held, cîntrolled and administered by Triatdlon Canada in order to presårve tde eligibility of an atdlete to compete in an ITU event