- Why do we pay tax?
Mission Thrift Stores are individually incorporated Not For Profit Societies. The Excise Tax Act (Canada) directs that all businesses charge HST/GST on goods and services except goods and services that are exempt, are zero rated or are sold by someone that enjoys an exemption. A Not for Profit does not fit into any of those categories, therefore, Mission Thrift Stores must register and must charge the tax. Any HST/GST paid on purchases of goods and services may be claimed as a credit against HST/GST collected.
Charities may sell donated and used goods through a related Thrift Store business without charging HST/GST. This is an exemption they enjoy under the Excise Tax Act (Canada). They, however, may only claim 50% of HST/GST paid on goods or services.
2. What is the difference between a charity and a Not-For-Profit Society?
A Charity is, generally, a society which does charitable work in one form or another. A Charity is registered with Canada Revenue Agency and may issue charitable donation receipts, which are deductible for tax purposes by the donor, for gifts received.
A Not-For-Profit Society is, generally, a Society which does work to support a Charity, a community, a community organization, or another worthwhile cause. None of the profit may be diverted to a Member, Director, or another person who has an interest in the Not-For-Profit Society.
Why are Mission Thrift Stores structured as Not-For-Profit Societies and not as Charities?
Mission Thrift Stores are organized as individual and independent societies with membership ties to BFM Foundation (Canada), the Charity.
3. What are your store hours?
Monday, Tuesday, Wednesday, Saturday
9:30am to 5pm
Thursday and Friday
9:30am to 6pm
4. When can I drop donations off?
Accepting donations Monday – Saturday between 9:30 am and 4:30 pm.
5. How often do the auctions happen and how do they work?
4-6 weeks and click here to find out how to participate
Note:* For every auction you get a new bidding number