Education

CrowdFunding Proceeds May Be Taxable

CrowdFunding Proceeds May Be Taxable

  By Ted Citrome   Crowdfunding has been defined as “the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet”.  Crowdfunding has been used to support various activities, ranging from disaster relief and political campaigns to commercial enterprises such as motion picture promotion and start-up company funding. In a recent technical interpretation (CRA document number 2013-0484941E5), the Canada Revenue Agency (“CRA”) was asked for its view on the tax treatment of funds received by a taxpayer via…

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How to successfully Crowdfund projects: Tips from RocketHub founder Brian Meece

How to successfully Crowdfund projects: Tips from RocketHub founder Brian Meece

Now that Kickstarter is accessible in Canada, Canadian entrepreneurs can finally take to the platform and get their ideas off the ground. But what does it actually take to build a successful crowd funding project? Crowd-funding website RocketHub founder Brian Meece explained the trends he sees in crowd funding during a social media week event in Toronto on Wednesday. And, as he explained, a lot more goes into a successful campaign than you might think.   “I like to think of crowd funding as an online event,” he said. According to Meece, successful projects are built on three…

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Closing Hollywood’s gender gap: Women directors crowdfund film

Closing Hollywood’s gender gap: Women directors crowdfund film

Catherine Hardwicke, Julie Taymor and Julie-Anne Robinson are all celebrated directors with the same complaint: They had no role models when they started out. “I certainly didn’t know any female directors when I came to L.A.,” Hardwicke, director of “Thirteen” and “Twlight,” told TheWrap. Taymor, too, lamented “the worship of the enfant terrible — the brilliant young male.” “If woman is a maverick or an auteur, she often is labeled a bitch,” the “Frida” and “Across the Universe” director said. Robinson (left) is a Golden Globe-nominated director who has a large…

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Capital Crowdfunding in Canada: Recent developments

Capital Crowdfunding in Canada: Recent developments

The recent arrival of the KickStarter platform in Canada serves as a reminder that some interesting developments in the regulation of “crowdfunding” have been occurring in the last several months. This article focuses on the exemption granted to MaRS VX by the Ontario Securities Commission, which recently authorized the very first capital crowdfunding platform in Canada. Crowdfunding is a way of financing a project or business by pooling small financial contributions obtained through Web platforms (such as La Ruche in the Quebec City region) and making use of social media for advertising and…

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Crowdfunding for investors could prove model is effective

Crowdfunding for investors could prove model is effective

Most conversations we’ve had around crowdfunding revolve around the concept that it allows the average Joe to make an investment in a startup project. But why can’t accredited investors get in on the fun too? Our friend Shane Schick writes about a Bay Street firm, Optimize Capital Markets, about their crowdfunding portal targeted specifically at accredited investors. Most people spending time on the Web are by now familiar with the crowdfunding model put forward by Kickstarter or Indiegogo – a company or individual asks for consumers to fund their campaign…

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