Life in the Tax Lane (Canada): Recent Episodes
Video Tax News
These 10-minute podcasts are a rapid-fire discussion of select recent developments in the wonderful world of Canadian tax presented by the Video Tax News Team. For more information go to www.videotax.com.
Sources:
- Capital Gains Inclusion Rate Increase – Draft Legislation
- Trust Reporting – Draft Legislation
- Trust Distributions Violating Trust Terms
- Alternative Minimum Tax – Draft Legislation
- Post-Mortem Losses – Draft Legislation
- Collection of GST/HST by Accommodation Platform
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Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2024, All Rights Reserved.
Sources:
- Bare Trust Issues – Current Events – Source 1, Source 2 and Source 3
- Canada Disability Benefit – Proposed Regulations
- CRA Service Standards
- Personal Services Business
- Employee Ownership Trusts – Exemption or Deferral? – Source 1, Source 2 and Source 3 (third-party paywall)
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2024, All Rights Reserved.
Sources:
- Capital Gains Inclusion Rate Changes – Source 1 and Source 2
- Non-Resident Sellers of Canadian Real Estate – Source 1 and Source 2
- Use of Corporate Assets by Shareholder
- CRA Guidance – Receipts
- Bare Trust Reporting Rules – Source 1 and Source 2
- Gross Negligence Penalties
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2024, All Rights Reserved.
Sources:
- Fees for Services Consultation
- Real Estate – CRA Audit Activity
- Capital Gains Inclusion Rate – Budget 2024 – Source 1, Source 2 and Source 3
- CEBA – Collection Process – Source 1 and Source 2
- Spousal Income Attribution
- Canada Carbon Rebate for Small Businesses – Source 1 and Source 2
- Canadian Dental Care Plan Update – Source 1 and Source 2
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2024, All Rights Reserved.
Sources:
- 2024 Federal Budget – Capital Gains – Source 1 and Source 2
- 2024 Federal Budget – Other Items – Source 1 and Source 2
- Home Office Expenses – Multiple Employers and Clients
- Accessing CRA Online Portals
- Psychotherapy and Counselling Therapy – GST/HST – Source 1 and Source 2
- Avoiding CPP by Paying Dividends
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2024, All Rights Reserved.
Sources:
- Bare Trusts – Penalty Relief
- T2200 – Employer Requirement?
- Reliance on CRA's My Account
- Canada Carbon Rebate
- Short-Term Property Rentals – Denial of Expenses – Source 1 and Source 2
- UHT – CRA Commentary on Excluded Owner Proposals – Source 1 and Source 2
* Late Breaking - Bare Trust Reporting Exemption!
On March 28, 2024 (after this episode of Life in the Tax Lane was recorded), CRA announced that bare trusts would be exempt from trust reporting requirements for 2023. CRA stated:
“To support ongoing efforts to ensure the effectiveness and integrity of Canada’s tax system, the Government of Canada introduced new reporting requirements for trusts.
In recognition that the new reporting requirements for bare trusts have had an unintended impact on Canadians, the Canada Revenue Agency (CRA) will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust), for the 2023 tax year, unless the CRA makes a direct request for these filings.
Over the coming months, the CRA will work with the Department of Finance to further clarify its guidance on this filing requirement. The CRA will communicate with Canadians as further information becomes available.”
For more information, see CRA’s Tax Tip .
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2024, All Rights Reserved.
Sources:
- T1 Season – What's New – Source 1, Source 2 and Source 3
- Working From Home Expenses
- CCA – Retroactive Adjustment
- GST/HST Electronic Filing Reminder
- Multi-Factor Authentication – Authenticator App
- Cryptocurrency Losses
- FHSA – Constructing a Home
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2024, All Rights Reserved.
Sources:
- UHT – Assessment Statistics
- Clearance Certificate Obtained after Distribution
- CPP Survivor – Common-Law Partner
- Employee vs. Independent Contractor – Control by Owner-Manager
- Short-Term Rental – Denial of Expenses – Source 1 and Source 2
- FHSA – Income Splitting – Source 1 and Source 2
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2024, All Rights Reserved.
Sources:
- Pre-Budget Consultations
- Canada Dental Care Plan
- Electronic Distribution – T-slips
- Cryptocurrency and NFTs
- Working From Home Expenses – Employees
- Expanded Trust Reporting – CRA Guidance
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2023, All Rights Reserved.
Sources:
- Fall Economic Statement – Short-Term Rentals and Employee Ownership Trusts
- Fall Economic Statement – Underused Housing Tax (UHT) – Source 1 and Source 2
- Various Trust Filing Issues – Source 1, Source 2 and Source 3
- Various Trust Filing Issues – Late Breaking Release
- Personal Indexation Amounts for 2024
- Canada Pension Plan
- T4/T4A Filing Requirements – Dental Benefits
- Overlooked Capital Losses
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2023, All Rights Reserved.
Sources:
- Mandatory Tips – GST/HST/QST
- Expanded Trust Reporting – Bare Trust Arrangements
- UHT – Penalties, Interest and Relief
- Source of Income – Source 1 and Source 2
- EI Insurable Earnings – Control of Shares
- Partial Change in Use – Rental to Personal
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Life in the Tax Lane is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2023, All Rights Reserved.
Sources:
- Extended CEBA Repayment Deadline – Source 1 and Source 2
- Enhanced GST Rental Rebate – Source 1, Source 2 and Source 3
- Home Accessibility Tax Credit – Nature of Impairment
- Enhanced CCA – Phase-Out After December 31, 2023 – Source 1 and Source 2
- Mileage Allowance – Common Starting Location
- Corporate Beneficial Ownership Registry – Source 1 and Source 2
For detailed COVID-19 information curated for Canadian accountants, go to videotax.com/Covid19
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Surcharge to Accept Payment Via Credit Card – GST/HST? | Revival of a Corporation | Multigenerational Home Renovation Tax Credit – New Dwelling | Identifying Simplified Registrants – New CRA Numbers | Employee vs. Independent Contractor – Differing Legislation | Late Payments to CRA | Replacement Property Rules
First Home Savings Account (FHSA) – Timing of Opening an Account | Mandatory Disclosure Rules | Alternative Minimum Tax – Proposed Changes | Objection Deadline – One-Year Limitation Period | Expanded Trust Reporting Rules
Late Application for CPP Benefit | First Home Savings Account (FHSA) – Tips and Traps | CRB Eligibility – Airbnb Income | Multigenerational Home Renovation Tax Credit | Residential Property – Self-supply Issues | Intergenerational Business Transfer Proposals – Considerations and Challenges
Sources:
- RRSP Vs. TFSA Vs. Tax-Free First Home Savings Account
- Donation Planning – Life Insurance Product
- CPP Enhancement
- Withholdings on Rent to Non-Residents
- EI Parental Benefits – Change of Extended Benefits Election – Source 1, Source 2 and Source 3
- COVID-19 Collections
- Employee vs. Independent Contractor – Truck Drivers – Source 1 and Source 2
For detailed COVID-19 information curated for Canadian accountants, go to videotax.com/Covid19
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Sources:
- Shrinkflation – GST/HST Issues
- Mandatory Disclosure Rules – Source 1 and Source 2
- Intergenerational Business Transfers
- Underused Housing Tax (UHT) – Various Issues
- Alternative Minimum Tax (AMT) – Budget 2023
For detailed COVID-19 information curated for Canadian accountants, go to videotax.com/Covid19
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Sources:
- Relationship Status – Common Law or Not?
- Underused Housing Tax – Updates – Source 1 and Source 2
- TFSA – Carrying on a Business
- Employment Expenses – Sponsorship
- Legislation vs. CRA Interpretation – Source 1 and Source 2
- US FBAR Penalties – $10,000 Per Form or Account? – Source 1 and Source 2
For detailed COVID-19 information curated for Canadian accountants, go to videotax.com/Covid19
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Sources:
- Underused Housing Tax – Guidance – Source 1 and Source 2
- Unreported Capital Trades Included on a T5008
- Recurring Conversion Between Personal and Income Earning Use
- Updates to CRA Online Portals – Source 1 and Source 2
- Foreign Tax Credit Verification (Question 11 of CPA Canada/Provincial Accounting Bodies Questions to CRA – 2022 (released January 12, 2023))
For detailed COVID-19 information curated for Canadian accountants, go to videotax.com/Covid19
Like what you are watching? Join our mailing list at videotax.com/mailing-list to stay in the know with new video releases, products and upcoming promotions.
Sources:
- Underused Housing Tax – Source 1 and Source 2
- Statute-Barred Corporate Returns
- Wage and Rent Subsidies – Partnership Income and Reviews
- Relationship Breakdown – Written Separation Agreement
- Canada Child Benefit – Shared-Custody Arrangement
For detailed COVID-19 information curated for Canadian accountants, go to videotax.com/Covid19
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Sources:
- 2023 Automobile Limits
- Individual Instalment Interest – Unexpected Income – Source 1 and Source 2
- Tax Loss Selling – Corporations
- COVID-19 Suspicious/Fraudulent Claims
- Tips And Gratuities – GST/HST
- EFILE Revocation
For detailed COVID-19 information curated for Canadian accountants, go to videotax.com/Covid19
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Taxable Benefits – Gift Cards | 2022 Fall Economic Statement and Bill C-32 | Extension of Time to Object | Underused Housing Tax | Shared Custody – Redetermined Prior Period Benefits | 2023 Personal Indexation Amounts | CERB/CRB Eligibility – Prior Period Earnings
CEBA Update | Canada Dental Benefit | CRA Representative Online Access | Assisted Compliance Initiative | The Proposed Trust Reporting Rules – Bare Trust Arrangements | Tax Problems Arising From Bookkeeping
Individual Supports – Rent, Dental and GST Credit | CERB Eligibility – Communication Breakdown | Tips Collected Electronically – EI And CPP | Personal Services Business – CRA Education Initiative Update | Revised Capital Dividend Election – T2054 | US FBAR Penalties – Source 1 and Source 2
GST/HST Input Tax Credit – Reasonable Expectation of Profit | Accelerated Investment Incentive Property – Renovations | Capital Cost Allowance – Retroactive Adjustment | Disability Tax Credit – Form and Application Updated | Electronic Filing and Payments – Draft Legislation | Trust Reporting Rules – Draft Legislation
Poker Playing – Hobby or Business? | Required Travel Between Home and Work | Disinheritance of Children | Personal Services Business – CRA Education Initiatives | Director Liability – Relationship Breakdown
Class Action – Credit Card Fee Charge | Immediate Expensing of CCA – Prescribed Form | CERB/CRB Denial for Owner-Manager of a Corporation | Working From Home – Employer Considerations | Taxable Benefits | Source of Income – Foreign Currency Straddles
Ban on Residential Real Estate Purchases by Non-Residents – Source 1 and Source 2 | Underused Housing Tax – Traps | Retrofit Loans For Homeowners | Sale of Home | Late Wage and Rent Subsidy Claims – CRA Discretion | CRA Collections Related to COVID-19 Programs – CEBA | CRB – Not Working Due to COVID-19?
Federal Budget 2022 | Draft Legislation (released subsequent to recording) | Principal Residence Exemption – Multigenerational Home
Recovery of CERB Overpayments | Costs for COVID-19 Protocols | Digital Adoption Program | Money Received from Offshore Accounts | Underused Housing Tax (UHT) – Reporting Obligations | Accessing Former Spouse’s Tax Information (link to be released on April 5)
CRA Processing Issues – Changes to Refundable Tax Credits | Principal Residence Exemption Education Letters | Working From Home – Extended Relief | Proposed Changes to CRA Administrative Processes | Trusts – Changes to Reporting Requirements | Immediate Expensing Incentive – Proposed CCA Expansion
CPP Benefit Payment – Impact of COVID-19 | Employment Benefits – COVID-19 | Working from Home – Extended Relief | Worker’s Compensation – Accident at Home Office | Prescribed Rate Loans | CRA Processes, Services and Focus Areas | Expanded Trust Reporting Rules
COVID-19 Business Subsidy Update | Post-Assessing Corporate Reviews – Advertising And Promotions | 2021 Economic and Fiscal Update | Valuation of Shares | Parents Assisting Children With a Home Purchase
2022 Indexation for Personal Amounts | COVID-19 - Personal Support | COVID-19 - Business Support | Falsified Employment Records | Rental Property | Disability Tax Credit (DTC) – Fee Restrictions | OAS Clawback Planning
COVID-19 Update - Businesses | COVID-19 Update - Individuals | CPP Disability Benefit | New Disability Tax Credit Form and Application Tool | RESPs – Many Canadians Don’t Understand Them
Travel Log | Automobile Benefits - Electric Vehicles | Enhancing the Value of Owner-Managed Business | Salaries to Family Members | Transfer of Property for Less Than Fair Market Value | Unsigned Will – COVID-19
Multiple Consultations Released | Workspace In Home Expenses | Ensuring Audit Requests Are Answered | Medical Travel Expenses | German Pensions | Multiple Children But One RESP Account | Fuel Cards Provided To Independent Contractor Drivers | Wedding Costs – Tax Evasion?
Additional OAS Payment | CRA Collections – Impact On Business | Tax-Driven Bankruptcies | Informal Agreements Between Family Members | Travel Allowances – Limited Distance Covered | Bulk Taxpayer Relief | TFSA – Excess Contributions | EI Consultation | Foreign Buyer Property Transfer Tax
CEWS Audits | CERS Lockdown Support – Restricted Activities | Insurable Employment | Impending US Tax Changes | US Master Limited Partnerships (USMLPS) – Withholding Taxes | Poor Records – Repayment of Shareholder Advances
Estate Planning – Millennials | Reviewing Beneficiary Designations | Proposed Changes to Facilitate Intergenerational Transfers | Mandatory Disclosures – Budget 2021 | Medical Expenses – Leasing Costs Due to COVID-19 | Personal Protective Supplies | CEWS – Eligible remuneration | E-Commerce, Accommodation Sharing & Warehouses
Federal Budget 2021 | New Program – Advisor Error | Social Media Review | Unnamed Persons Requirement (UPR) – Coinsquare | Bank Records Sent to the IRS | New Compilation Engagement Standard – Effect on Tax Work | Disability Tax Credit (DTC) – Fee Restrictions
CERS/CEWS Update | CRA Online Security | Wedding Costs – Business Expense? | Rental Properties – Repair Expense | Income Versus Capital Gains | Taxpayer Relief – Financial Hardship
Special Presentation! Budget Chatter with Tim Cestnick FCPA, FCA, CPA(IL), TEP and Joseph Devaney CPA CA recorded March 23, 2021
For detailed COVID-19 information curated for Canadian accountants, go to videotax.com/Covid19
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COVID-19 Benefit Recipients – Individual Interest Relief | CERB Issues | Capital Gains Inclusion Rate Changes – Who is Affected? | Potential U.S. Tax Changes | Registered Disability Savings Plans – Letter Campaign
Education and Training | T4Summary – 10% Temporary Wage Subsidy | Correcting Form PD27 Submissions | Electronic Signatures – T183, T2200, T2200S | Relief Payments from Foreign Governments | U.S. Corporate Beneficial Ownership Disclosure | U.K. Publicly accessible Registers of Beneficial Ownership
CRA Focus on Video Games Streamers and Online Influencers | Canada Emergency Rent Subsidy – Non-Arm's Length Rent | Employees Working From Home During COVID-19 | Residential Property Rebates | Offshore Tax Informant Program Update | Electronic Signatures | Sending CRA Legal Documents – Deceased Individuals | CEWS – Period 1-5 Deadline Issues
Canada Emergency Rent Subsidy | Canada Emergency Wage Subsidy | Employment Benefits – COVID-19 | Passing on the Family Cottage | Capital Cost Allowance – Retroactive Adjustment
Canada Emergency Rent Subsidy | Canada Emergency Wage Subsidy | Canada Emergency Business Account | Interactive Tool for Financial Assistance for Businesses | Working From Home | Travel From Home Office to Employer’s Office | Principal Residence Exemption – Multiple Sales
Canada Emergency Wage Subsidy – Source 1 and Source 2 | Recovery Benefits | Section 160 – Paying Dividends | Reasonable Meal Allowances | Document Loans And Dispute Resolutions | Schedule 50 Letter Campaign
CPP – When to Apply | Sophisticated Taxpayer – Gross Negligence Penalties | Canada Emergency Wage Subsidy (CEWS) | Real Estate Commissions
COVID-19 Support – National Leads Tip Program | Fake kids – Enforcement Notification | CERB, CEWS, and CESB Enforcement | Managing Your Business During COVID-19 | Buyers and Sellers of PPE | POST Promise | CEWS Program Extension | CEWS Adjustment Requests | CERB $1,000 Threshold Update | Bill C-17 (CERB, CEWS, Disability Payment) | CECRA Extended | CEBA Expanded Eligibility
Charitable Status – Is Atheism a Religion? | Telecommuting Allowances and Reimbursements | 10% Temporary Wage election | Supplementary Unemployment Benefit Plans | Director Liability – Challenging the Corporate Assessment
COVID-19 Updates | Working From Home | Director Liability – No GST/HST Received | Employment Insurance (EI) – Voluntary Departure | Backdating of Documents | Childcare Costs
COVID-19 – Canada's Economic Response Plan | Employment Insurance – Delay in Disability Benefit Application | Director Liability – Due Diligence | Tips – Gross Negligence Penalties | Is It a Business? – Start-Ups and Wind-Ups | CRA My Account – Uncashed Cheques
T1 Season – What’s New | U.S. – New Disclosure Requirements for Crypto Activities | Vehicle Logs | Tenant Relocation Assistance | Starting a Business While Collecting Employment Insurance | Late Appeal – Miscommunications | In-Kind Contributions to an NPO
Joint Tenancy – Cautions | Executor Personal Liability | Condo Pre-Sale – GST/HST Issues | Home Accessibility Tax Credit – Renovation Increasing Value of Property | Tax Promoter Schemes | Negligence – Erroneous Donation Claims
Climate Action Incentive | Enhanced Basic Personal Amount | Contribution to Employee’s Crowdfunding Campaign – Employment Benefit | Gross Negligence Penalties – Magnitude of Unreported Income | New Process for Authorizing Representatives CRA Access | TOSI: Excluded Business – Holidays, Vacation and Sick Days
Investment Management Fees | Rental Property – Source of Income | Penalty – Repeated Failure to Report Income | Agency Relationship | Represent a Client Updates – Deceased Taxpayers | Transparency of Corporate Ownership
Mobile Home/RV Park – Specified Investment Business | Travel Expenses – Shareholder-Employees | Payroll Audits | Charitable Registration Process – Online Only | Excluded Business – Large Dividends | U.S. Expatriates – New Relief Procedures
Denial of Employment Insurance Benefits – Misconduct | Property Flipping – Income or Capital | Employment Expenses – Commuting? | Shared-Custody Parents – Equal or Near Equal
Director’s Personal Liability for Negligence | TFSA Overcontribution | Overdrawn Shareholder Loans | Transfer of Life Insurance from a Corporation | Represent a Client – New Format for Individual Accounts | IRS Compliance Campaign – Former Participants of U.S. Offshore Voluntary Disclosure Program
Taxable Benefit – Parking Pass | Stock Option Taxation Changes | Condo Sale – Income or Capital? | First-Time Home Buyer Incentive (FHBI) | Taxpayer Relief – T1135
Virtual Currency – Taxable Supply? | Disability Tax Credit – Fee Restrictions | Interest Deductibility | Unnamed Persons Request – Construction Industry | New Housing Rebate – Primary Place Residence | CRA Service Standards 2019-2020 | Learn more about Video Tax News’ 2-day Tax Update Seminars
Zero-Emission Vehicle Purchase Incentive | Health Spending Accounts – CRA Cautions | Taxable Benefits – Clothing Reimbursement | Administrative Updates from CRA | Donation of Credit Card Loyalty Rebates
Project Bitcoin Investors | Rebate Incentive Income | Taxpayer Request – Reassessment for Statute-Barred Period | Data Breaches – Was Your Information Compromised? | Taxpayer Relief – Financial Hardship
Zero-Emission Vehicles – Budget 2019 | T4A Slips | Nominal Consideration | Repairs and Maintenance | Housing Measures – Budget 2019 | Shared Equity Mortgages (SEM) | Canada Training Credit – Budget 2019
Carbon Tax and Climate Action Incentive Payment | Allowances or Expense Reimbursements | Valuation – Normal Reassessment Period | OAS Deferral – Retroactive Application | Dedicated Telephone Service | GST/HST New Housing Rebate
Principal Residence Exemption – Large Lots | Maximum Deductible Automobile Allowances – 2019 | Incentive Payment for Travel to Pick-up Site | T5018 Forms (construction industry) – Penalties Being Assessed | Shared Custody – Canada Child Benefit | CPA Canada – Full Tax System Review Needed
TFSA – Contributions by Third Parties – Source 1 and Source 2 | Expenses After Business Income Ceases | Tax on Split Income (TOSI) – Reasonable Return | Passive Investment Income – Small Business Deduction Clawback | Tracking of Corporate Ownership Information – Canada Business Corporations Act
Federal Fall Economic Statement – CCA Changes | Manufacturing and Processing | Corporate Passive Investment Income – Small Business Deduction Grind | CRA Audits – Liquor Sales | Indexation for Personal Tax Rates and Benefits Rates | Carbon Tax and Climate Incentive Payments
Shareholder Benefit – Space Trip | Child Care Expenses – What is an eligible amount? | Changes to Employment Insurance (EI) | Increase to CPP: Phase-In Details | Independent Contractor VS. Employee
Donation of Wine – Valuation | Donation of Life Insurance | Tax on Split Income – Excluded Business | AIRBNB – Hotel Tax | GST/HST on Online Advertising | Voluntary Disclosures Program – Number of Applications | Working While on Employment Insurance
CRA Project – Vehicle Expenses | Non-Partisan Political Activities of Charities | CRA GST/HST Debt Collection Priority | Active Business Vs. Property Income – Music Royalties | Business Expenses – Are They Reasonable? | Cannabis – U.S. Travel Issues
Extended Reassessment Period – Budget 2018 Proposal | Individual Tax Refund Beyond 10 Years | Employment Scam | Corporate Owned Life Insurance | Time Limit For Input Tax Credit (ITC) Claims | Sales To U.S. – Sales Taxes May Apply | Provincial Matters
Bill C-74 | Tax on Split Income (TOSI) – CRA comments on Excluded Shares | Director Liable for Corporate Income Taxes on Liquidation | Business Or Personal? | Meals and Entertainment – Some Issues | Retiring Partner Payments – Pensionable Earnings | IRS Launches Multiple Non-Resident Projects
Taxable Benefits – Social Activities | Incentives Received by a Business | Interest Deductibility – Return of Capital | CRA Project – Class 10 Vehicle Additions | CPP Death Benefit – Automatic Upload | Golf Tournament – Gifting Receipts | Donation Receipts – New Information Required | RRSP Overcontribution – Relief
CRA Payment Arrangements | Incentives Received by a Business | End of U.S. Offshore Voluntary Disclosure Program | Using Legacy Software | Requirement to Assess – Amended T4 | Allowable Business Investment Loss – Active Operations
Malicious Prosecution by CRA? | Budget 2018 – Passive Income | Tax on Split Income – Parliamentary Budget Officer | U.S. Transition Tax and Canadian Corporations
Education and Textbook Amount | Home Accessibility Tax Credit | Canada Caregiver Credit | Real Estate Dispositions | Prescribed Rate Loan | Salaries to Family Members | Travel Expenses – Owner/Managers Employees | U.S. Estate Tax
CRA Postal Code | Third Party Request for Information – PayPal | Cryptocurrencies | Miscoded Revenues | Principal Residence – Change in Filing Requirements | U.S. Citizens – Non-Compliance Risks
Pre-Budget Consultation | Tax Consultation on Private Corporations (TCPC) | Disability Tax Credit - Diabetes | Taxation of Cannabis
Tax-Free Savings Account (TFSA) Audit Project | Employee Discounts on Merchandise- | Employer Provided | Tax Changes – Year-End Dividends | TCPC – Passive Investment | CRA Enquiries Service – Auditor General Report
CRA Verification Activity | CPP Survivor Benefits | Management Fees | Investment Management Fees | Facebook – what happens when you pass away? | U.S. Tax Changes
Tax Consultation on Private Corporations | Taxi and Commercial Ride-Sharing Services | CRA Collects U.S. Disclosures Penalties | IRS Looking at Canadian Companies? | Business Loss or Personal Venture | Indirect Verification of Income (IVI) | Charity Checklists
Federal, Provincial and Territorial Finance Ministers Meeting | Proposed Tax Changes for Private Corporations | Third Party Requests for Information | Distributions of Non-Taxable Amounts to a Non-Resident | TFSA – Survivor Payments | Managing Affairs Upon Intestate Death | Reconciling Shareholder Draws
Registration of Tax Preparers Program | Feedback on CRA Audits | Lost Book of Clients | Voluntary Disclosure Program – Proposed Changes | Small Business Deduction
Topics Include Taxable Benefit – Parking Pass | Employee Discounts On Merchandise | Income vs. Capital | Distributions To Non-Resident Beneficiary – PART XII.2 tax | Disposition Of Farm Property By A Non-Resident | Billed-Basis Accounting – FAQ | Small Business Deduction – Farmers And Fishers
This FREE 10-minute podcast for Canadian Tax Professionals includes rapid-fire discussion of select recent developments in the wonderful world of Canadian tax presented by the Video Tax News Team. For more information go to www.videotax.com.
This FREE 10-minute podcast for Canadian Tax Professionals includes rapid-fire discussion of select recent developments in the wonderful world of Canadian tax presented by the Video Tax News Team. For more information go to www.videotax.com.