Your Team Sponsorship includes:
- A t-shirt
- Spin instructor
- Food and beverages
- Door prizes
Canada Revenue Agency (CRA) policies state that tax receipts can only be issued for donations that legally qualify as gifts. A gift is defined as a voluntary transfer of property without valuable consideration to the donor. As such, registration fees, raffle tickets, and merchandise do not qualify as gifts because the purchaser has received valuable consideration.
Additionally, tax receipts can only be issued in the name of the true donor. That means that funds raised at an event or collected from multiple individuals cannot be tax receipted to one specific individual. The true donors that contributed must be the recipients of the tax receipts.