Charitable status definition

Charitable status means that the group does not have to pay income tax on any profits it makes, nor does it have to pay Land Tax or Stamp Duty. Donations may be tax deductible, that is, the group may be able to deduct their donations from their income and so reduce the amount of tax they have to pay. Groups with charitable status are eligible for a Certificate of Exemption from Resident Withholding Tax.
View Source
Charitable status means status as a nonprofit corporation or nonprofit cooperative under applicable Law.
View Source

Examples of Charitable status in a sentence

  • Charitable status places restrictions on political campaigning work which may make the requirement that local action groups campaign on environmental issues difficult to meet.

  • Charitable status gives housing associations certain privileges (e.g., tax advantages) but limits the objectives and activities the association can carry out.

  • Charitable status will also provide recognition of our social impact values and allow us to apply for grant funding as appropriate.

Related to Charitable status

  • Charitable purpose means a charitable purpose under section 7 of the Charities and Trustee Investment (Scotland) Act 2005 which is also regarded as a charitable purpose in relation to the application of the Taxes Acts;

  • charitable purposes means the relief of poverty; the improvement of health through the alleviation of illness, disease, or injury; the operation of an organization exclusively for the provision of professional, laundry, printing, and purchasing services to hospitals or charitable institutions; the operation of a home for the aged, as defined in section 5701.13 of the Revised Code; the operation of a radio or television broadcasting station that is licensed by the federal communications commission as a noncommercial educational radio or television station; the operation of a nonprofit animal adoption service or a county humane society; the promotion of education by an institution of learning that maintains a faculty of qualified instructors, teaches regular continuous courses of study, and confers a recognized diploma upon completion of a specific curriculum; the operation of a parent-teacher association, booster group, or similar organization primarily engaged in the promotion and support of the curricular or extracurricular activities of a primary or secondary school; the operation of a community or area center in which presentations in music, dramatics, the arts, and related fields are made in order to foster public interest and education therein; the production of performances in music, dramatics, and the arts; or the promotion of education by an organization engaged in carrying on research in, or the dissemination of, scientific and technological knowledge and information primarily for the public.

  • Charitable gaming or "charitable games" means those raffles and games of chance explicitly

  • Charitable organization means a charitable organization as described by Section 501(c)(3) of the Internal Revenue Code of 1986, as in effect from time to time.

  • Charitable sales promotion means an advertising or sales campaign, conducted by a commercial co-venturer, which represents that the purchase or use of goods or services offered by the commercial co-venturer will benefit, in whole or in part, a charitable organization or purpose.