If you would like to ask a question or change your address, please contact the Saskatoon Co-op administration office for any of your membership inquiries. Our phone is 306-933-3801 or e-mail email@example.com . Be sure to include your name, Co-op number, and date of birth (to confirm your identity).
Forms for Withdrawal of Equity or Equity Transfer can be printed from the tabs below.
The Withdrawal of Equity application includes Moving Outside the Trading Area, Estate, Age 69 or Corporate Dissolution.
The Equity Transfer application is for a Name Change or the Transfer of Equity.
Member Reminder: Tax Treatment of Co-op Patronage Allocation
As a result of a number of calls recently received by several CRS Co-operatives we wish to remind members of the income tax treatment of the patronage allocation they receive.
The taxability of the patronage allocations varies between members. However, if you are asked to provide CRA with a copy of your T4A be sure it is labelled appropriately according to the percentage of the patronage that was used for business use:
- “For Consumer Goods only” – if 100% of the purchases were for goods or services you consumed and for which you cannot deduct the cost of when you calculate your income. In this case, the patronage is not taxable;
- “X% Taxable, Y% Consumer Goods” – if a portion relates to business/farm purchases and a portion relates to non-business expenses.
- Blank if all of the purchases are for business expenses that are deductible for income tax purposes. In this case, the patronage is taxable.
If you have misplaced your T4A, contact your Co-operative to request a copy.
The following information can be used to assist you when with speaking with CRA or completing your income tax adjustment request. If you require further assistance or clarification when speaking with CRA ask to speak with their supervisor or request a technical call back.
Patronage Allocations and T4As:
Many CRS Co-operatives provide to its members a patronage allocation based on the member’s purchases at a rate approved by the Board of Directors. Regardless of whether the patronage is taxable to consumers or not, the Co-operative is required deduct and remit to CRA 15% of any allocation over $100. If the allocation is over $100 a T4A will be generated and sent to you. The allocation is reported in box 30 on the T4A and the withholding tax is reported in box 22 (income tax deducted) on the T4A.
If your allocation reported in box 30, relates totally to business/farm use (Co-op purchases have been deducted as expenses) the allocation must be reported as income on your tax return on line 130. If your allocation reported in box 30, relates totally to personal use (consumers goods), the allocation need not be reported as income (do not enter on line 130), based on the information provided on the back of the T4A slip. If your allocation reported in box 30, relates partially to business/farm and partially to personal use (consumer goods) then a portion of the allocation that relates to business/farm use only must be reported as income on line 130. If you are filing manually please write “Consumer Goods” across the T4A slip when you send it to CRA and indicate the portion that relates to personal use. If you are filing electronically, enter the non-taxable portion in the non-taxable box, and the remainder in the taxable box when entering the T4A slip into any personal income tax preparation software program.
The withholding tax reported in box 22 of the T4A is income tax withheld and remitted by the Co-op Regardless of whether the allocation reported in box 30 is taxable or non-taxable income, the income tax deducted and reported in box 22 must be reported as part of “total tax deducted” on your income tax return.
Unfortunately, for the several members that have received Income Tax Notices of Reassessment CRA to mistakenly include the patronage allocation in their income and we have been told CRA cannot simply “undo” the reassessment. Members will have to individually request a second reassessment to remove the patronage allocation from income if some or all of the patronage pertains to consumer goods purchases. Members can either make their change online if they have subscribed to MyAccount, or make the request by mail. The link to the CRA website containing instructions for both is:
T4A's are mailed out in January of each year to members who received a member refund in excess of $100 in June of the preceding year. Please keep your address current.
Saskatoon Co-op is required by CRA (Canada Revenue Agency) to report all member refunds paid in excess of $100.00 and to withhold 15% of the amount earned over $100.00 and remit it to the government. The T4A reflects the member refund made to you in the previous year. Member Refunds are not necessarily taxable. Member Refunds earned on consumer goods (i.e. groceries, household items, gasoline for private car use) are not subject to tax. You are entitled to claim the tax withheld as outlined on your T4A as a credit when you file your personal income tax (write on the face of your T4A "Consumer Goods Only"). Instructions for including this on your personal income tax form are provided in the insert 'Explanation of T4A Statement' you received with your T4A.. (Patronage returns are normally only taxable for business persons, farmers, contractors, etc.)
Note: The amount indicated in Box 30 of your T4A is the total patronage allocation amount for the tax year. This number is the total allocation of cash and equity, not the amount of your general cash repayment cheque.
Membership application agreement: 'I understand that I will become a member only after Board approval of the membership application. Upon becoming a member, I agree to be bound by the by-laws and policies of the Co-op, as amended from time to time.'
Click below for Saskatoon Co-operative Association Limited Equity Policy.
Click below for the Withdrawal of Equity Form -Corporate.
Click below for the Withdrawal of Equity Form.
Click below for the Equity Transfer Form.